"Only 10-12 per cent of MoUs lead to investment: Ashok Gehlot skeptical of Rising Rajasthan Global Investment Summit

Jaipur (Rajasthan) [India], December 8 (ANI): Congress leader and former Rajasthan Chief Minister Ashok Gehlot has expressed scepticism about the effectiveness of Rising Rajasthan Global Investment Summit 2024, stating that only 10 per cent to 12 per cent of proposed investments materialize after various memorandum of understandings are signed.
Rising Rajasthan Global Investment Summit 2024 is scheduled to be held in Jaipur in December.
Speaking to reporters, former Rajasthan CM Ashok Gehlot said, "Our best wishes. Every government makes an effort to bring in investment from across the country as well as outside - they sign Memorandum of understanding (MoUs) and bring in investment. But after the MoU, a mere 10-12 per cent investment comes in. Attending the program is one thing but actual investment is a different thing."
Gehlot said that the Congress government had sanctioned a Rs 40,000 crore project aimed at increasing employment opportunities; however, it was delayed for nearly five years due to a change in government.
The project resumed after Prime Minister Narendra Modi laid the foundation stone, Gehlot added.
"Refinery is very important for us. When Manmohan Singh was the Prime Minister and Sonia Gandhi was the chairperson, we approved this Rs 40,000 crores project. A fantastic project with a modern petrochemicals complex was coming up. Unfortunately, there was a change in government and the work was stopped for almost five years. Later, PM Modi returned to lay the foundation stone once again. Then the project started. After that, our Govt came to power. We monitored it. Jobs would be generated through the petrochemicals complex," Gehlot said.
The Rising Rajasthan Global Investment Summit is being organised on December 9, 10 and 11in the state capital, Jaipur. The summit will be held in Jaipur Exhibition Convention Centre (JECC), Sitapura.
The three-day Summit will string together state's opportunity showcase, strategic thematic sessions, country sessions, one-on-one business meetings and much more.
These will also include an MSME Conclave and a Pravasi Rajasthani Conclave. (ANI)