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The state government on July 31 decided to provide financial assistance of Rs 2 crore to the Vibrant Goa Foundation to conduct the Vibrant Goa-Global Expo and Summit 2019. The decision was taken at the cabinet meeting chaired by chief minister Pramod Sawant, who said that the funds will be used for “various road shows” to promote Goa as an investment destination.

“The government has decided to provide financial assistance and other miscellaneous expenses for participation of government departments and officials for various road shows in different countries from the budget provision made by the directorate of industries, trade and commerce for Goa Investment Promotion Board,” said an official citing the cabinet document.

Vibrant Goa Foundation is a private trust that wants to conduct a global investment summit between October 17-19 this year at the Shyama Prasad Mukerji stadium in Taleigao.

Sawant had earlier said though Vibrant Goa Foundation was a private initiative with no direct connection with the government but the government was supporting the event since it could bring in investments to the state.

Vibrant Goa Foundation (VGF) on July 30 signed a memorandum of understanding with the Goa Chamber of Commerce and Industry (GCCI), Goa Management Association (GMA), Goa Technology Association (GTA), Travel and Tourism Association of Goa (TTAG), the Goa chapters of the Fire and Security Association of India (FSAI) and the National Institute of Personnel Management (NIPM).

President of GCCI Manoj Caculo said that Goa’s economy is stagnant with no good fresh investments coming to the state. “The chamber feels that something like Vibrant Goa is very much needed to help showcase Goa as a good investment destination,” said Caculo.


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