SRINAGAR: The delegates representing 33 companies from the United Arab Emirates (UAE), Hong Kong and Saudi Arabia have arrived in Srinagar during which a strong impetus is expected for investments across various sectors.
Quoting officials a national newspaper reported that the delegates will attend the “Gulf Business Summit” on March 22 and discuss exploring investment opportunities in J&K in different sectors.
According to report, top-level officials of these UAE–based companies, which included the Roya International Group, Al–Tayer Group, Intercontinental Dubai, Hanadi Trading Est. Promoter, Al–Hashemi Group, Rawaaj Partner Representative of the Rulers Office in Abu Dhabi, Al Mal Capital etc., on Monday visited Pari Mahal near the Dal lake in Srinagar.
These delegates are slated to travel to different destinations in north, south and central Kashmir in the next two days, officials was quoted as having said.
“We are not holding them back. This is an attempt to dissipate the notion of Kashmir being an unsafe place. We want the potential investors to see for themselves the beautiful place where they intend to put their money. This will end the misconception about Kashmir and bring out the true story,” The Hindu quoted Ranjan Prakash Thakur, Principal Secretary, J&K Industries and Commerce, as having said.
Earlier, the J&K government had signed the MoUs in January with the UAE–based companies, including industrial giants like Emaar, Lulu, MATU Investments, Al Maya Group, GL Employment Brokerage LLC, Century Financial, IT giant Noon e-commerce etc. Around 16,000 kanals (1,999.9 acres) land bank has already been opened for investments in Kashmir.
“There are already big label companies ready to invest in healthcare, IT and tourism. More private investment will come in tourist places like Pahalgam, Gulmarg and Sonmarg where we need more hotels. At present, all rooms are booked in the Valley. There is a generation in the country that has not seen Kashmir in the past 30 years,” Thakur said.
South Kashmir’s Pulwama and Pampore are emerging as the main spots for investors, where over 5,000 kanals of land will be offered.
Meanwhile, Jammu and Kashmir Lieutenant Governor Manoj Sinha hosted a dinner for high-powered industry delegation from the Gulf.
Hosted dinner for entrepreneurs and CEOs from Gulf countries who are on a visit to explore business opportunities in J&K. We are committed to make J&K UT the most preferred investment destination. pic.twitter.com/SZxh8KYsNX
— Office of LG J&K (@OfficeOfLGJandK) March 21, 2022
“Hosted dinner for entrepreneurs and CEOs from Gulf countries who are on a visit to explore business opportunities in J&K. We are committed to make J&K UT the most preferred investment destination,” Office Of LG JK tweeted.
