Srinagar: Two months after the Jammu and Kashmir LG Manoj Sinha signed MoUs with investors in Dubai, a 34-member delegation of businessmen and company executives from the United Arab Emirates arrived on a four-day visit to Kashmir to explore investment opportunities in different sectors in the Union Territory.
The delegation which comprises 17 businessmen from UAE, two from Saudi Arabia, and 14 Indian-born CEOs of different companies attended the "Gulf Investment Summit" at SKICC in Srinagar organized by the J&K administration. Many businessmen from Kashmir and senior officials of the Industries and Commerce department attended the summit. LG Manoj Sinha said that the administration had "good talks" with the delegation and the government is "committed to putting these good talks with the investors and CEOs into practice'
Abdullah Alshahbani, a visiting businessman from UAE said Kashmir is a paradise on earth and the businessmen "are keen to invest here". "We found the people very kind, and we feel safe between them. Regarding investment, we find big opportunities here," he said.
Earlier, the delegation visited Pahalgam on Monday and will visit other tourist destinations, including the Ski resort of Gulmarg to explore investment opportunities in the tourism and hospitality sector and entrepreneurship, an official said. Principal Secretary, Industries and Commerce, Ranjan Prakash Thakur said the Union Territory (UT) needs "deep investment" for the transformation of the region adding that several big developmental projects are in the pipeline. "The visit signifies the successful socio-economic transformation of the valley under the leadership of Prime Minister Narendra Modi. Emirati investors are keen to capitalize on the enormous investment potential of Jammu and Kashmir and the visit will further boost the confidence of the global investor community," Thakur said.
"We are hoping that our relationship will deepen through this visit. They will recognize what all has transpired after 2019 and what kind of incentives we are providing to attract investors," he added.
In January this year, the Jammu and Kashmir government signed several important MoUs with UAE-based Al Maya Group, MATU Investments LLC, GL Employment Brokerage LLC, and Noon, with the aim to boost investment in the union territory. After the abrogation of articles 35 A and 370, the central government said that Jammu and Kashmir will open up for investors to boost the economy and industries in the union territory.
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