Shillong, Feb 26: Chief Minister Conrad K Sangma has asserted that the state is going witness a significant surge in private investment as the government expects an investment of Rs 5,600 crore in the coming years.
“Within a couple of years, we will have close to Rs 5,600 crore worth of investment actually done in Meghalaya,” Sangma told the Assembly during the budget discussion on Wednesday.
“We expect another Rs 2,638 crore to be finalised very soon,” he added.
Stating his government’s expectation of creation of over 5,500 employment opportunities with the huge investment, he said most of the employments will be created in the hospitality sector.
The Chief Minister highlighted the state’s potential in bamboo plantations, citing a study conducted by MBMA.
“A study was done by MBMA on the bamboo plantations that are there in Meghalaya… When they read that report, they were so excited because the variety of bamboo they were looking for is what they found in Meghalaya, and that is opening up an opportunity of almost Rs 2,000 crore of investments for us.”
Sangma added that the government is in advanced stages of negotiation with potential investors, which could create significant opportunities for local farmers.
“Once this does happen, this is going to create not just livelihood but is going to create huge opportunities for our farmers who will then be able to plant bamboo in a very organized manner and will be able to get returns from it.”
