Shillong, Feb 25: Meghalaya is set to witness a significant surge in private investment, with the government expecting an influx of ₹5600 crore in the coming years, Chief Minister Conrad K Sangma announced on Wednesday.

“We expect another ₹2638 crore to be finalized very soon. Within a couple of years, we will have close to ₹5600 crore worth of investment actually done in Meghalaya, which we expect to create more than 5500 employment opportunities, and most of them will be in the hospitality sector,” Sangma said while replying to the budget discussion in the Assembly.

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 ₹2000 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.”

Also Read: Meghalaya healthcare system gets a boost with 479 new specialists, 772 hospital beds

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