Riyadh, November 5: Ahead of ‘Rising Rajasthan’ Global Investment Summit 2024, a high-level delegation led by K. K Vishnoi, Minister of State for Industries and Commerce, held meetings with several leading companies in the West Asian nation today, including Al-Jomaih Group, Saudi Basic Industries Corporation (SABIC), ACWA Power and Lulu Saudi Hyper Market and has participated in ‘Rising Rajasthan’ Saudi Arabia Investor Meet on Monday evening (Riyadh time). The delegation impressed upon the investors and business leaders to visit Rajasthan and explore new business opportunities in the state during these meetings. The investors and companies were also apprised about the business-friendly policy decisions being taken by the government under the leadership of Hon’ble Chief Minister Bhajanlal Sharma and were invited to participate in the upcoming ‘Rising Rajasthan’ Global Investment Summit 2024, scheduled to be held in Jaipur on 9th-10th-11th December.
The meeting with Al-Jomaih Group of Companies featured discussions on the diverse services offered by Al-Jomaih Holding Co., spanning sectors such as investment, automotive and equipment, financial services, energy, real estate, and consumer goods and the conversation focused on how these sectors could contribute to Rajasthan’s economic growth.
During the meeting with SABIC, its officials showed interest in exploring investment opportunities in Rajasthan across key sectors such as fertilizers, petrochemicals and renewable energy, with a particular emphasis on potash exploration for its fertilizers business. Similarly, officials of ACWA Power showed interest in exploring the power sector of Rajasthan, while officials of Lulu Saudi Hyper Market appeared inclined to explore the retail sector.
Speaking after these meetings, K. K Vishnoi, Minister of State for Industries and Commerce, Government of Rajasthan said, “We wish to leverage key strengths of Saudi Arabia, and their companies were invited to explore Rajasthan, which is a land of immense opportunities for doing business. We have so many things to offer and are committed to bring investments in the State.”
Naveen Jain, Secretary of Finance (Expenditure), Government of Rajasthan, delivered an insightful presentation on Rajasthan and showcased the potential and opportunities available in various sectors of Rajasthan to the investor community during the investor meet at Riyadh.
Addressing the investors, he said, “Rajasthan is a unique state not just in terms of abundance of resources such as land & minerals but also due to the potential it offers to the investors across sectors. The range of subsidies and incentives on offer and proximity of the state with the national capital are some other factors that make the state an attractive investment destination.”
Moreover, 4 MoUS were also signed during the investor meet, 2 each for skill development and hospitality sectors, with Saudi Arabian companies.
Continuing the outreach with the Indian diaspora in general and Non-Resident Rajasthani (NRR) community in particular, the delegation also engaged with the members from the Indian diaspora at an event and appreciated the role played by the community in furthering the ties between India and Saudi Arabia. Vishnoi-led delegation also exhorted the members of the NRR to become the bridge between foreign investors and their native state of Rajasthan.
Besides the Minister of State for Industries and Commerce, the other delegation members that are currently in Saudi Arabia include Naveen Jain, Secretary, Finance (Expenditure) Department, Government of Rajasthan, Sandesh Nayak, Special Secretary to Hon’ble Chief Minister, Navneet Kumar, Additional Commissioner, DMIC and other top officials of the Government of Rajasthan.
In the run-up to the ‘Rising Rajasthan’ Global Investment Summit 2024, the government of Rajasthan has organised investors’ meets around the country as well as overseas.
The domestic investors’ meets have already been organised in Mumbai and New Delhi whereas on the global front, the investors’ meets have so far been organised in South Korea, Japan, UAE, Qatar, Singapore, Germany and the United Kingdom. The extensive outreach at the domestic and international level has resulted in the Government of Rajasthan securing Investment proposals (MoUs) worth over INR 18 lakh crore so far, reflecting the resounding faith of the investor and business community in the state’s efforts.
