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Vibrant Goa brings Rs 453 cr investment to state



Stating that the Vibrant Goa global summit 2019 was a huge success, chief executive officer (CEO) and founder of Global Network Institute and chief mentor of Vibrant Goa Foundation Jagat Shah Saturday said 19 Memorandums of Understanding (MoUs) were signed during the summit.

These deals are expected to generate an investment of over Rs 450 crore in the state while also creating jobs.

Shah said the summit witnessed a resounding success and attracted investment proposals worth Rs 453 crore that would come into the state by way of the MoUs signed with USA, Australia, Oman, Quwait and Qatar in different sectors like renewable energy,
real estate, food processing, information technology (IT), biotechnology, construction, pharmaceutical and artificial intelligence.

Briefing the audience on the Vibrant Goa summit report during the valedictory function of the three-day event, Shah said  business enquiries worth Rs 1,150 crore were received by small scale enterprises, who became first-time exporters.

He also said that Qatar wants to set up an international convention centre in the state on its own financial resources.

Highlighting few of the agreements signed with local companies, Shah said an Oman Company has signed a pact of Rs 10 crore for the import of building material from Goan enterprise
Arman Industries. A building material company in Canada has placed an order of Rs 60 lakh with a Goan company. Wooden Homes India, a South Goa-based company, has bagged an order from Nepal and USA for three wooden homes.

“The summit was a forum created to help the private sector to convert the discussions into real business,” Shah said.

The summit, attended by leading global economies and business and political delegations, hosted

extensive B2B (business to business) interactions, mega exhibition, sectoral seminars and conventions. There were 83 international and 16 national speakers bringing the best benchmark knowledge of industrial sector, which was the focus for Goa. A total of 410 B2B meetings were arranged and 180 companies were mentored and prepared to deal with trade in foreign countries.

Shah said Chief Minister Pramod Sawant also had business to business meets with delegates from 19 countries at the venue itself.

Shah said over 542 international delegates participated and 6,500 national delegates registered online for the three-day event.

The high-profile foreign business delegates were received from the airport and guided during the entire summit by Goan college students through ‘Intern Buddy Programme’ introduced by Vibrant Goa.

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