Srinagar, Aug 08: The Jammu and Kashmir Union territory administration led by Manoj Sinha is luring investors from the United States (US), Dubai and England to invest in the Union territory , a top government official said.
“From last several months we have been in talks with delegates and investors from the United States (US), Dubai, and England. The prospective foreign investors had detailed discussions with the government officials on their business plans,” one of the top officials in the industries and commerce department told morning Kashmir, wishing not to be named.
He said that they have also asked them to visit the region and explore investment opportunities provided by the UT government.
He said that they have provided them the knowledge and research-based information, policy advocacy, marketing and developmental activities in the focus sectors.
The official said that they were also in talks with foreign delegates like- Russia, Uzbekistan, Bangladesh, Belarus — for exploring different avenues to attract global investments.
“The government is working towards policies and schemes to ensure ‘ease of doing business’ to investors. We are always open to facilitate queries and collaborate with the trade fraternity,” the official maintained.
“We are sure that more traders from across the world will be looking forward to visiting the Union Territory,” he said.
Meanwhile sources said that the SIDCO has received expressions of Interest (EoI) from several outside companies.
These companies, according to the official sources, have shown interest in investing in different sectors in J&K, including apple industry, Hospitals, cold storages, dry fruit and saffron industries, and tourism and hotel industries.
“All of them have submitted detailed project proposals, including land required, setting up their businesses,” said the source.
“Once some companies start their operations in J&K, it will encourage other investors to follow. We hope this is only the beginning.”
It is to mention here that to remove bottlenecks for the land allotment under the new industrial policy, the government has created an easy online registration option for the investors across India.
The investors can submit their proposals online for the investment in Jammu and Kashmir.
The officials said that the aim to introduce online registration was to provide a hassle-free option for the investors interested in expanding base in JK.
J&K had inked six agreements with global investors at Dubai Expo 2020 to bring in investments in the UT’s real estate, infrastructure, tourism, healthcare, and manpower employment sectors among others.
The MoUs were signed with Al Maya Group, MATU Investments LLC, GL Employment Brokerage LLC, Century Financial and Noon E-commerce respectively; 1 LoI between Magna Waves Pvt. Ltd along with Emaar Group and Lulu International. It is to mention here that Jammu and Kashmir Lieutenant Governor Manoj Sinha had already invited business leaders from the United Arab Emirates to become partners in development and move together towards creating a more prosperous, equitable and vibrant Union Territory of Jammu and Kashmir.
