Major tourism investments likely to be announced in AP at CII Summit

Visakhapatnam witnessed significant tourism investments on the second day of the 30th Confederation of Indian Industry (CII) Summit, with agreements amounting to a staggering Rs 17,800 crore likely. In the presence of Minister Kandul Durgesh, national and international organisations signed 104 Memorandums of Understanding (MOUs), marking a pivotal moment for the state's tourism sector.

The agreements will lead to the establishment of 10,690 rooms, creating a substantial boost in employment opportunities in tourism and hospitality. According to Minister Durgesh, a total of 88,876 jobs are expected to be generated, comprising 32,206 direct positions and 56,670 indirect jobs.

In a groundbreaking development, a Foreign Direct Investment (FDI) MoU worth Rs 1,860 crore to be be signed for the tourism sector, paving the way for the creation of an additional 12,500 jobs. Minister Durgesh expressed optimism about the industrialists' response, stating that new innovations have emerged in tourism as a result. He also assured investors that permits would be expedited and land allocated according to their requirements.