Thiruvananthapuram | Kerala Industries Minister P Rajeev on Friday said that the state government has signed investment LoIs worth Rs 1.18 lakh crore with various foreign companies at the WEF in Davos, Switzerland.

Rajeev, in a Facebook post, said that the letters of intent were signed with 27 companies from the US, UK, Germany, Spain, Italy and South Africa which were working in the medical technology industry, renewable energy, data center and emerging technology sectors.

The minister said that it was the first time Kerala attracted investment from the WEF.

He said the delegation from Kerala held discussions with representatives of 67 companies in three days during the WEF.

The WEF was held from January 19 to 23.

Rajeev said that officials will be assigned for the follow-up work in connection with the LoIs.

He further said that of the numerous companies that signed LoIs at the Invest Kerala Global Summit held in Kochi last year, more than 100 have entered the construction phase.

The minister said that various companies have commented that since Kerala has adopted the ESG (Environmental, Social, and Governance) policy, the first state to do so in India, it is an incentive for more investments.