MoUs worth £3 bn signed during TN global investors meet

CHENNAI: This year's Global Investors Meet (GIM) in Tamil Nadu has surpassed success of the first edition of the event held in 2015. This year, the Tamil Nadu government has signed 304 Memoranda of Understanding (MoUs) and agreements entailing investments to the tune of over £3 billion in GIM-II. The two-day summit drew to a close last week, and the government said there were investments this year in relatively new sectors like school education, higher education, office space and tourism. Traditional sectors and MSMEs also received promises of huge investments. Apart from the 304 MoUs, as many as 12,360 Memoranda were signed in the MSME sector, which had attracted investments of over £3.22 billion. In 2015, the MSME Department signed 10,073 MoUs during the road shows conducted ahead of the summit. Chief Minister Edappadi K Palaniswami said the MoUs will, over the next few years, provide job opportunities to over 10,00,000 people across the state.