Shillong, December 14: The Department of Tourism, Government of Meghalaya organized an Investor Summit cum Roundtable Conference on Investment Opportunities in Meghalaya on the 14th of December 2023 bringing together key stakeholders, industry experts and potential investors to explore and discuss the vast potential that Meghalaya holds for strategic investments.
Dignitaries in attendance at the event includedShri Paul Lyngdoh, Hon’ble Minister of Tourism, Government of Meghalaya, Dr. Vijay Kumar, IAS, Commissioner and Secretary, Department of Tourism, Government of Meghalaya, Shri Cyril Diengdoh, IAS, Director, Department of Tourism, and various stakeholders from across the country.
Meghalaya is rapidly developing as a promising investment destination. The Summit sheds light on the untapped economic prospects across various sectors and aims to foster dialogue and collaboration among participants, providing a platform for in-depth discussions on the economic landscape, emerging sectors, and potential growth areas in Meghalaya.
Renowned industry leaders and experts from the state and the country engaged in thought-provoking discussions, sharing valuable insights on the current economic landscape of Meghalaya and the opportunities for sustainable investments.
The event featured interactive roundtable discussions, allowing participants to engage in focused conversations on specific investment opportunities, challenges and innovative solutions, and suggestions were also made.
Those in attendance were also given a chance to explore and understand specific investment projects and the PPP model through interactive presentations. This provided a comprehensive understanding of the potential returns and positive impact these projects can have on the local economy.
The minister of the department of tourism, Government of Meghalaya, Shri Paul Lyngdoh noted in his keynote address, “The stable political conditions, the atmosphere of peace that permeates the Northeast today.
Also, the fact that Meghalaya has moved, from what was once an extractive economy into a regenerative economy is a major shift for the state. The ease of doing business, that atmosphere is just right, and we would like to further accelerate and do everything possible to ensure that this ease is taken to its highest level.
The government has a mindset that is pro-investor. We would like to ensure that our fragile eco-system is preserved for posterity. We have very clearly, in our tourism policy, stated that government will go for high-value tourism but to encourage high-value tourism, would mean that we create the kind of infrastructure that would attract high-value tourists. We are very clear in our vision that we would like to see that tourism becomes a major employer in the state.”
Speaking at the Summit, Dr. Vijay Kumar D., IAS, Commissioner and Secretary, Government of Meghalaya spoke on some of the investment options such as Public-Private partnership and the Swiss Challenge and said.
He said once we do this diligence on what is possible, we urge you to also do your diligence, then maybe by end of February or early March, we could have several roundtables on what the possibilities are, based on this, we will put the projects for a competitive bidding process.
While delivering a presentation on the Investors Summit, Shri Cyril Diengdoh, IAS, Director, Department of Tourism highlighted certain factors to those in attendance which include Meghalaya’s aim to be among the top ten states by 2032 in per capita income and achievement of Sustainable Development Goals.
The other objectives were to increase GDP by 50 per cent, a 2x increase in farmers income, nurturing future Olympians, quality education for all, 5 lakh employment, increase in Border Trade, amongst others.
The tourism sector in Meghalaya provides livelihood opportunities to almost 50000 people and from the year 2024 onwards, a year-to-year growth of -10% in footfalls is expected with a conservative target of approximately 20 lakh tourists by 2028.
The Investor Summit offers a unique platform for networking, fostering connections between investors, government officials and local businesses. This collaborative environment will provide investors the opportunity to explore the untapped potential of Meghalaya.
The event serves as a catalyst to facilitate meaningful and strategic partnerships that will drive economic growth and sustainable development in the state.
