Jaipur, Oct 14 (IANS): Urban Development and Housing Minister Jhabar Singh said on Monday that Rajasthan is the most suitable state in the country in terms of investment which is full of possibilities.

He added that new investment MoUs worth more than Rs 76400 crore were signed with more than 400 investors at the 'Rising Rajasthan' urban area pre-summit in Jaipur.

“The investment MoUs signed in the areas of real estate, data centre and IT park, township and construction of educational institutions will further the goal of sustainable urbanisation, affordable and quality life in the state,” the minister said.

Addressing the Pre-Investment Summit organised ahead of Rising Rajasthan, the Urban Development and Housing Minister said that the government led by Chief Minister Bhajan Lal Sharma is aiming to double the size of Rajasthan’s economy from the current $180 billion to $350 billion in the next five years.

“About 26 per cent of Rajasthan’s population lives in cities and all the districts of Rajasthan are important economic hubs which are going to boost the state’s economy. Therefore, rejuvenating and strengthening urban infrastructure, promoting public transport like buses and metros and encouraging projects in affordable housing are the key priorities of the government,” he said.

Speaking about the significance of ‘Rising Rajasthan’ Global Investment Summit 2024, the Rajasthan Chief Secretary said that the Chief Minister took the important decision to host the Rising Rajasthan conference in the very first year of his tenure to ensure that the MoUs signed under Rising Rajasthan are implemented on the ground in the next 2-3 years.

Making a presentation to the investors at the pre-summit event, the Principal Secretary, of the Urban Development and Housing Department said that the state of Rajasthan has the largest land in the country, which is extremely important in view of the growing urbanisation.