Wednesday, Oct 05, 2022

J&K Govt Signs MOU With Govt Of Dubai For Developing Industrial Sector In J&K

Govt says different entities from Dubai have shown keen interest in investment.

J&K LG Manoj Sinha.(File photo)

The government of Dubai and the government of Jammu Kashmir Monday signed a memorandum of understanding (MoU), aimed at developing the Industrial sector and various business enterprises in Jammu and Kashmir, a government spokesman here said. He described the MoU as historical development.

Union Minister of Commerce and Industry Piyush Goyal and Lieutenant Governor of J&K, Manoj Sinha and Chairman of DP World Sultan Ahmed Bin Sulayem briefed the media about the MoU.

Goyal said with the signing of the MoU with the Dubai government, the world has started to recognize the pace with which Jammu and Kashmir are 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.

“This MoU is a significant move towards rapid development and Industrial growth in J&K,” Goyal said.

“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 testimony towards ensured development of J&K,” Goyal added.

Sinha termed the occasion as a historic day for the Dubai-Jammu Kashmir friendship, and for the developmental journey of the Jammu and Kashmir Union Territory.

Sinha said 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,” he added.

Sinha talked about the previously announced Rs 28,400 crore Industrial Development scheme and said the scheme is already attracting huge industrial investment.

“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, he added.

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