J&K: High-level UAE delegation visits Srinagar to explore investment opportunities

As the government of Jammu and Kashmir government is working relentlessly to provide an investment-friendly environment to the global investors, a high-level business delegation from the United Arab Emirates (UAE) landed in the summer capital here to enhance ties and look at the investment opportunities in the region.

A 40-member delegation from the UAE has reached the Valley for a four-day (March 20-23) visit, months after Jammu and Kashmir Lieutenant Governor Manoj Sinha’s Dubai visit. The delegation also includes Indian businessmen based in the UAE and a representative of the Rulers Office in Abu Dhabi.

"The UT administration is aiming to attract new investments in industries and tourism by highlighting key opportunities and growth sectors in Jammu and Kashmir to the delegation,” an official said.

The aim is to create a favourable infrastructure for export promotion and an entrepreneurial friendly environment.
As per the government official here, “There will be pitch presentations of several importers, exporters and start-ups in J&K along with an overview of the cottage and silk industries, product displays and artisan meet,”

During their four-day visit, the delegation will also be visiting Pahalgam (South Kashmir) and Gulmarg (North Kashmir) to explore investment opportunities in the Tourism and Hospitality sector.

Pertinently, Prime Minister Narendra Modi has welcomed the UAE’s investment in Jammu and Kashmir.

In January, Jammu and Kashmir signed five MoUs with Al Maya Group, MATU Investments LLC, GL Employment Brokerage LLC, Century Financial, Noon E-commerce, and others.

`Century Financial’ will invest $100 million and set up three hotels and one commercial-cum-residential complex in the Union Territory. The MoU was signed in a special event presided by Lieutenant Governor, Manoj Sinha had said. The LG is hopeful that Jammu and Kashmir will be getting investments in the next six months. Our aims are to encourage new investment in industries and facilitate new entrepreneurs. With the focus on growth in these areas, the newly carved UT of Jammu & Kashmir is also working towards encouraging and creating conditions that will enable the promotion of human resource skills, creation of new employment opportunities and development of new designs in the handloom and handicrafts sector, LG Sinha had said. 

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