Rajasthan Forges New Hospitality Partnerships with Saudi Arabian Firms
Rajasthan's Minister of State for Industry and Commerce, K.K. Vishnoi, led a delegation to Saudi Arabia, where they signed two MoUs in the hospitality sector and invited the country to participate in the ‘Rising Rajasthan Global Investment Summit 2024’.
RajasthanSaudi ArabiaMousHospitalityInvestment SummitReal Estate MaharashtraNov 05, 2024
Vishnoi emphasized the significance of the partnership, stating, “Saudi Arabia is one of the largest economies in West Asia, boasting leading business groups in various sectors such as petrochemicals, engineering, real estate, and renewable energy. These sectors are vital to Rajasthan’s economic growth.” He added, “Our discussions were highly productive, leading to the signing of two investment MoUs in the hospitality sector, which will significantly boost our state’s tourism and hospitality industry.”
The delegation, comprising key government officials and industry leaders, outlined the pro-business policy reforms being implemented under Chief Minister Bhajan Lal Sharma. These reforms aim to attract new investments and create business opportunities in Rajasthan.
The MoUs were signed with Riyadh-based Swiss Hospitality Company and Jeddah-based C Ventures. Swiss Hospitality Company offers a wide range of services, including advisory and project management, as well as community engagement and development. C Ventures, a leading consulting firm, supports emerging entrepreneurs and new ventures, focusing on community building and engagement programs.
In addition to the MoUs, the delegation met with officials from Alfanar Projects, a prominent engineering and construction company based in Riyadh. The company expressed a keen interest in making fresh investments in Rajasthan’s renewable energy sector.
The delegation included Naveen Jain, Secretary of the Finance (Expenditure) Department; Sandesh Nayak, Special Secretary to the Chief Minister; Navneet Kumar, Additional Commissioner of the Delhi-Mumbai Industrial Corridor; Ravish Kumar Verma, Joint Commissioner of Industries; and Krishan Kumar Gupta, DGM of RIICO.
The ‘Rising Rajasthan Global Investment Summit 2024’ is part of a broader strategy to attract investments and foster economic growth. The Government of Rajasthan has organized numerous investor meets both domestically and internationally. So far, investor meets have been held in major cities across India such as Mumbai and New Delhi, as well as in several countries, including South Korea, Japan, UAE, Qatar, Singapore, Germany, and the United Kingdom. These efforts have resulted in investment proposals (MoUs) worth over Rs 18 lakh crore, demonstrating the strong confidence of the investor and business community in Rajasthan’s development initiatives.
Frequently Asked Questions
What is the ‘Rising Rajasthan Global Investment Summit 2024’?
The ‘Rising Rajasthan Global Investment Summit 2024’ is a significant event organized by the Government of Rajasthan to attract investments and foster economic growth. It aims to create new business opportunities and partnerships in various sectors.
Which companies signed MoUs in the hospitality sector with Rajasthan?
The MoUs in the hospitality sector were signed with Riyadh-based Swiss Hospitality Company and Jeddah-based C Ventures.
What other sectors are important for Rajasthan’s economy according to the Minister?
According to the Minister, sectors such as petrochemicals, engineering, real estate, and renewable energy are crucial for Rajasthan’s economy.
Which company expressed interest in investing in Rajasthan’s renewable energy sector?
Alfanar Projects, a Riyadh-based engineering and construction company, expressed interest in making fresh investments in Rajasthan’s renewable energy sector.
How much investment has been proposed through MoUs so far?
The Government of Rajasthan has received investment proposals (MoUs) worth over Rs 18 lakh crore, reflecting the strong confidence of the investor and business community in the state’s development initiatives.
Related News Articles
Ramky Estates Sets New Standards with Completion of Clubhouse at Ramky One Harmony
Renowned developer Ramky Estates has inaugurated the state-of-the-art Clubhouse of Harmony at Ramky One Harmony in Hyderabad, offering residents a vibrant community space with top-notch facilities.
MemeFi Daily Codes for November 3, 2024: Secure Your Wins with Today’s Guaranteed Codes
Discover the latest MemeFi Daily Codes for November 3, 2024. From real estate to small business, these codes can help you win big. Learn how to maximize your opportunities today!
Modi's Sharp Criticism of MVA as Maharashtra Elections Approach
With the Maharashtra elections just around the corner, Prime Minister Narendra Modi took a jab at the ruling Maha Vikas Aghadi (MVA) coalition during a rally in Dhule. The prime minister’s comments highlighted the internal bickering and leadership issues
India's Flourishing Luxury Real Estate Market: A Boon for the Ultra-Rich
The luxury real estate sector in India has seen a surge in high-value transactions, with ultra-rich buyers snapping up properties worth hundreds of crores. This article delves into the factors driving this boom and the impact on the market.
Hong Kong Home Prices Drop by 0.9% in February 2025
In February 2025, home prices in Hong Kong experienced a 0.9% decline despite government efforts to stimulate the property market, including lifting all restrictions on property purchases and easing down payment ratios.
Blackstone Breaks Records with Europe’s Largest Real Estate Fund
Blackstone Inc. has achieved a significant milestone by raising the largest external capital pool ever for a European real estate fund, marking a new era in the investment landscape.