Jaipur, Oct 13 (IANS): The Rajasthan government on Tuesday signed 27 memoranda of understanding (MOUs) with private companies for urban development, tourism and social development works, entailing an expenditure of around Rs.12,500 crore.

The investments are likely to create employment for around 38,950 persons.

Fourteen MoUs pertaining to housing sector, seven to healthcare sector, four in education sector and two in tourism were signed here in the presence of union Urban Development Minister Venkaiah Naidu, Rajasthan Chief Minister Vasundhara Raje and senior state government officials.

"Rajasthan has achieved another distinction today (Tuesday) by becoming the first state to sign memorandums of understanding for promoting affordable housing projects with private and public sector companies," Naidu said in a statement.

The minister said this step would motivate other states to follow suit.

Raje said her government was successful in drawing investment of Rs.12,478 crore to help meet demands related mainly to urban development.

She urged investors to attend the 'Resurgent Rajasthan Partnership Summit' slated to be held here on November 19-20.

The summit will entail strategic conferences, panel discussions, roundtable deliberations, presentations and one-on-one business meetings.

The summit is expected to bring together investors from all over the world for interacting with policy-makers, including political leadership, government officials and local business leaders, on investment environment and opportunities in Rajasthan.