Gujarat tourism sector gets Rs 415 cr investment from 130 MoUs

AHMEDABAD: As many as 130 MoUs signed during the 2007 and 2009 Vibrant Gujarat Global Investor Summits (VGGIS) in tourism sector have got translated into investments of Rs 415 crore till December 2010, the Assembly was informed today.

Tourism Minister Jaynarayan Vyas said in a written reply that the state had signed 33 MoUs during the VGGIS 2007, pledging an investment of Rs 10,785 crore. As many as 97 agreements were inked in the 2009 event promising investments of Rs 41,428 crore in the tourism sector.

Of these MoUs, investments to the tune of Rs 415 crore have been made in the tourism sector, he stated in reply to a question of Jumansinh Chauhan (Congress).

VGGIS is a biennial Government-organised event aimed at projecting Gujarat as a favourable investment destination.

Gujarat's BJP government has been criticised by rival parties for spending several crores on organising the summit. Congress, the main political rival, said the actual flow of investments in the event was low.

"Of the 130 MoUs assuring investments of over Rs 52,000 crore, only a meagre Rs 415 crore has been invested so far," said Shaktisinh Gohil, the Leader of Opposition.

Gohil alleged that the high-profile event was nothing but a forum for gaining publicity.