Governments of Dubai and J&K ink MoU to scale up industrial development in the UT

JJ CORRESPONDENT
Srinagar, Oct 18: Jammu and Kashmir government on Monday signed a Memorandum of Understanding (MoU) with the Government of Dubai aimed at developing the industrial sector and various business enterprises in the Union Territory.
“This historic MoU gives out a strong signal to the entire world that the way India is transforming into a global power, Jammu and Kashmir is having a significant role in that as well”, said the Union Minister of Commerce and Industries Piyush Goyal during a press conference here on Monday.
Lieutenant Governor of Jammu and Kashmir Manoj Sinha and H E Sultan Ahmed Bin Sulayem, Chairman of DP World, (an Emirati multinational logistics company based in Dubai) also addressed the media on the occasion.
Mr Goyal highlighted the significance of the day and said that with the signing of the MoU with the Dubai Government, the world has started to recognize the pace with which Jammu and Kashmir is traversing on the development bandwagon.
This MoU is a significant move towards rapid development and industrial growth in Jammu and Kashmir, he said and added “ It is a milestone after which the investment will pour in from around the globe and is a big developmental push. Different entities from Dubai have shown keen interest in making investmentsin Jammu and Kashmir. Development has to be aspired on all fronts and we are on track. The recent industrial package of Rs 28,400 Crore is a testimony towards ensured development of Jammu and Kashmir”.
Lt Governor, Manoj Sinha termed the occasion as a historic day for the Dubai-Jammu Kashmir friendship and for the developmental journey of Union Territory of Jammu and Kashmir.
He said that the MoU is the beginning of a new partnership between the Government of Dubai and Jammu and Kashmir 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.
Expressing his gratitude to Prime Minister Narendra Modi and Home Minister Amit Shah for undertaking unprecedented development of the UT, the Lt Governor said that the Rs 28,400 Crore Industrial Development Scheme is already attracting huge industrial investments in the UT.
Jammu and 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.
This MoU is about Jammu Kashmir’s prospect and I am confident it will set the pace in the business sector of the future which is key to the prosperity of people. It renews the foundation of cooperation and reaffirms the government’s commitment to build Aatm-Nirbhar Jammu Kashmir, that will immensely contribute to Aatm-Nirbhar Bharat, observed Sinha.
“The government is committed to develop a new industrial culture in Jammu & Kashmir, create greater bonds and enhance the scope of investments in future to build the world’s best business enterprises in the UT”, said the Lt Governor.
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 Jammu and Kashmir and Government of Dubai have drawn out a strategy on future investments, the LG said.
The Lt Governor also spoke of 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 and Kashmir. The presence of Sultan Ahmed Bin Sulayem in Monday’s conference and our initiative to start the first international flight to Sharjah from October 23 reflects our commitment to foster strong business cooperation”, the Lt Governor said.
The Lt Governor also thanked Union Minister for Commerce & Industry Piyush Goyal for giving a focused attention towards creating a smart industrial ecosystem in Jammu and Kashmir, and tirelessly making efforts to bring investment and build an efficient pool of skilled human capital for sustained growth.
Sultan Ahmed Bin Sulayem, Group Chairman and 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.
Working on the lines of Make in India, Jammu and Kashmir will be connected to all major ports in India for transporting its unique products and agriculture, horticulture produce across the country and the world, he added. UNI