UAE Becomes First Foreign Investor To Visit Kashmir

Jammu, MINA – For the first time in the history of Jammu & Kashmir (JK), foreign investors visited Kashmir for investment purposes. The government said on Tuesday, it was pocketing the era of development and employment of UT (Unity Area).

A 36-member business delegation from the UAE is in the Kashmir Valley to explore business opportunities. Around 27 thousand crore of investment have been cleared from the total investment target of 70 thousand crore, said the Government, Zee News reports.

According to the Government of Jammu and Kashmir, around 70,000 crore of investment is planned to come in the next six months from foreign investors. The government has cleared investments worth Rs 27 thousand crore from foreign companies.

Earlier this month, several investment deals were signed by the Lieutenant Governor of Jammu and Kashmir, Manoj Sinha. The main deals signed were with UAE based companies, including LuLu Group, Al Maya Group, MATU Investments LLC, GL Employment Brokerage LLC & Noon Group at Dubai Expo.

“In the last two years, we have seen a lot of changes at UT Jammu and Kashmir. We have a new industrial scheme for JK. We have undoubtedly the best Industry scheme in the country. Industrialists across the country have shown a lot of interest in JK,” Manoj Sinha told the media on Tuesday.

“Relations between the UAE and India have strengthened. This means millions of jobs for local UT residents. We estimate that around 6-7 lakh people will find jobs with this new investment,” he said.

The delegation from the Middle East who was on a 4 day visit to Kashmir was a big UAE Businessman who came personally to Jammu Kashmir to see the investment potential and was mostly interested in the health, education and tourism sectors. They praised the Kashmir Valley.

They said they were welcomed by Kashmiris with open arms and found Kashmiris very kind. They also say that Kashmir is a safe place to visit and has great potential for investment.

The government hopes that Jammu and Kashmir will find millions of jobs once this investment is made. They also said that 75 percent of the jobs generated in this investment will go to local residents of Jammu and Kashmir. Moreover, overseas markets will be open for future Kashmiri businessmen. (T/RE1)

Mi’raj News Agency (MINA)