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Best time to invest in J&K is now: LG tells investors in Dubai

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MoUs signed with Al Maya Group, MATU Investments LLC, GL Employment Brokerage LLC & Noon to invest in J&K

Dubai: Union Territory of Jammu and Kashmir today signed several MoUs with Al Maya Group, MATU Investments LLC, GL Employment Brokerage LLC & Noon to invest in J&K Expo-2020 Dubai.

Lieutenant Governor Manoj Sinha, who presided over the signing ceremony said this will further strengthen J&K-Dubai’s trade, investment ties. He also held a meeting with Chairman of DP world, H.E. Sultan Ahmed Bin Sulayem. The DP World, it may be mentioned here, is set to build an inland port in Jammu and Kashmir.

Addressing the Investors Summit at Dubai, the Lt Governor highlighted the strong business scenario in Jammu & Kashmir.

Disclosing that big business groups from UAE have shown interest in investing in J&K marking the beginning of a new and comprehensive partnership, the Lt Governor said: “Relationship between India and UAE has matured enough over the years to become enduring ‘Global Partners’ in the 21st Century. These are those times in the journey of Jammu Kashmir where opportunities are in plenty.

The Lt Governor said the UT of J&K now has a sage & conducive environment for the businesses to flourish, besides having a young population and a demographic dividend to its advantage.

We are devising new paths, new policies, creating critical infrastructure and unlocking the business potential of Jammu Kashmir to strengthen our business ecosystem for the post-pandemic world and embarking on the journey of growth and development, added the Lt Governor.

“J&K has the capability to provide opportunity to industries to compete, connect and collaborate with its readily available abundant resources. In the last 28 months, J&K has transformed from sleeping business destination to the land of opportunities & investment”, the Lt Governor said.

He said that due to transparent policies, ease of doing business, the UT has been able to clock investment proposal worth Rs.45,000 Crore & additional Rs.18,300 Crore in real estate sector.

“Jammu Kashmir is rising. The best time to invest in J&K is ‘now’.  I have set the high target of economic growth for Jammu Kashmir, which is the crown jewel of India. With the ageless culture visible in the layers of history and as a witness to co-existence of almost all major religions known to humankind, Jammu Kashmir has created an inclusive cultural ecosystem for the country” the Lt Governor further added.

This is the new Jammu Kashmir determined to reverse the trend of the past 7 decades by pushing the targets for economic growth. Our aim is very clear- deepen the trust with business firms, build the industrial base for the economy and strengthen social stability, he said.

“We are offering you a stake in the present and future of rich civilization, the land of curiosity for intellectuals, travelers, traders and historians”, he said.

He said that there is an advantage of first-mover because Jammu Kashmir is an unsaturated market and one can build a brand new business network and tap rapidly growing opportunities in the Union Territory, adding, “I assure you, the government will be a facilitator, partner, provider, collaborator and promoter at every step to ensure sustainable, balanced, progressive and competitive business environment for traditional core sectors and new-age technology driven sectors.”

India and United Arab Emirates (UAE) enjoy strong bonds of friendship and historical ties which was further strengthened by the strenuous efforts of Hon’ble Prime Minister Shri Narendra Modi, the Lt Governor said.

“Taking this forward, J&K Government is working with enhanced cooperation in various other sectors. For serving the common interests of peoples of both the countries and creating more opportunities for growth and progress, we are also collaborating in setting up small and medium enterprises, educational institutions, space technology, health and closely working in the horticulture sector”, added the Lt Governor.

On the occasion, the Lt Governor also expressed his gratitude to the Indian community living in UAE for playing a significant role in the economic development of UAE and immensely contributing to the growth of various sectors in India.

During his meeting with Group Chairman and CEO of DP World, Sultan Ahmed Bin Sulayemthey discussed the investment opportunities in various sectors of J&K UT and potential areas of collaboration between the Government of J&K and DP World.

Dubai ports giant DP World is planning to build an inland port in Jammu and Kashmir as part of the firm commitment by the UAE to invest in J&K. The representatives of DP World would soon visit the 250 acre site earmarked for the inland port facility. The ambitious projects will be finalized soon.

The Lieutenant Governor also visited India Pavilion and took a guided tour during the participation of UT of Jammu and Kashmir in the UT floor of the pavilion.

Pertinently, the Lt Governor during his visit to Dubai is holding a series of meetings with potential investors for bringing investment in J&K, besides promoting J&K products at Gulf market.

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