Dubai To Invest In J&K Infra Projects, MoU Signed

We Hope To Get Proposals Around Rs 60,000 Crores In Coming Times: LG

Srinagar: In a move that will boost infrastructure development in Jammu and Kashmir, the government of Dubai and the Union Territory administration on Monday signed a Memorandum of Understanding (MoU), aimed at developing the Industrial sector and various business enterprises in J&K.

“This MoU is a significant move towards rapid development and Industrial growth in J&K. It is a milestone after which the investment will pour in from the entire globe and is a big developmental push. Different entities from Dubai have shown keen interest in investment. Development has to be aspired on all fronts and we are on track. Recent industrial package of Rs 28,400 Crore is a testimony towards ensured development of J&K,” Piyush Goyal, Union Minister of Commerce & Industry told a select group of reporters at Raj Bhawan after the agreement was signed.

Besides Goyal, who is also Union Minister of Consumer Affairs & Food & Public Distribution and Textiles, Jammu and Kashmir Lieutenant Governor, Manoj Sinha and Sultan Ahmed Bin Sulayem, Chairman of DP World addressed the media on the occasion, an official spokesperson said.

Goyal, he said, highlighted the significance of the day and said that with the signing of the MoU with Dubai Government, the world has started to recognize the pace with which Jammu and Kashmir is traversing on the development bandwagon.

“This MoU gives out a strong signal to the entire world that the way India is transforming into a global power, Jammu & Kashmir is having a significant role in that as well,” the Union Minister said.

According to the official spokesperson, J&K Lieutenant Governor termed the occasion as a historic day for the Dubai-Jammu Kashmir friendship, and for the developmental journey of Jammu and Kashmir Union Territory.

Sinha, he said, stated that the MoU is the beginning of a new partnership between the Government of Dubai and J&K which will help the Union Territory to scale new heights in Industrialization and sustainable growth.

“It is aimed at developing various economic activities including industrial parks, IT Towers, multi-purpose towers, logistics, medical college, super specialty hospital and many other projects,” the LG said.

“Jammu & Kashmir has received a proposal worth Rs 30,000 crores in just a few months after the second wave of the pandemic and we hope to get the proposals of around Rs 60,000 crores in the coming times,” Sinha said.

“This MoU is about Jammu Kashmir's prospects and I am confident it will set the pace in the business sector of the future that is key to the prosperity of people. It renews the foundation of cooperation and reaffirms the government’s commitment to build Atma-Nirbhar Jammu Kashmir, which will immensely contribute to Atma-Nirbhar Bharat,” he added.

“We have developed an ecosystem for incubating and unfurling start-ups in various sectors of the Union Territory of Jammu Kashmir. With this MoU, the Government of J&K and Government of Dubai have drawn out strategy on future investments,” Sinha said.

The LG, as per the official spokesperson also spoke on the deep relationship shared by Jammu Kashmir and Dubai based on the common values, mutual trust, respect and fair trade of popular products.

“The Government of Dubai is willing to explore the opportunity of potential cooperation with the government of Jammu & Kashmir. The presence of Hon’ble Sultan Ahmed Bin Sulayem in today’s conference and our initiative to start the first International flight to Sharjah from 23rd October reflects our commitment to foster strong business cooperation,” the LG said.

According to the official spokesperson, Group Chairman & CEO of DP World, Dubai expressed confidence that the MoU would bring many opportunities to transform the Industrial sector in Jammu Kashmir.
Sulayem, he said, also informed that DP World is a leading provider of smart logistics solutions, enabling the flow of trade across the globe.

“Working on the lines of Make in India, J&K will be connected to all major ports in India for transporting the unique products and Agriculture, Horticulture produce across the country and the world,” he said.

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