All efforts to transform the troubled state of Jammu and Kashmir are finally paying off. A multitude of memoranda of understanding with Dubai to establish solid business relationships are proof of J&K developments, particularly in the hospitality and tourism sectors, since the repeal of Article 370 in 2019. Now, major UAE conglomerates see J&K as promising ground for investment, overthrowing Pakistani propaganda on Kashmir.

In October of last year, the first MoU was signed between the governments of J&K and Dubai to develop real estate, industrial parks, a super-specialized hospital, etc. Many companies from the UAE have since stepped forward to take J&K to new heights. Large UAE companies such as Emaar, Lulu Group, Noon and DP World will drive J&K growth, according to a government official. Fittingly, University College Birmingham (UCB) Dubai, Century Financial and Lulu Group have signed memoranda of understanding with the J&K government in recent months.

J&K development attracts UAE companies

In December last year, the J&K government signed a memorandum of understanding with University College Birmingham (UCB) Dubai to explore potential advancement opportunities through an institutional partnership with professional colleges and universities in Kashmir. In addition, UCB aims to enable students to be admitted to the Middle East at reduced fees. And to that extent, he’s committed to opening an office at J&K to take the pulse of local educational institutions and facilitate academic exchange programs.

2022 has started well for J&K. UT’s administration has signed another major MoU with Dubai-based Lulu Group to set up a food processing and logistics center in Srinagar. Through this, the J & K-Dubai collaboration broadened its roots and would help UT’s products reach buyers at 190 LuLu hypermarkets in the Gulf countries and Egypt. The mantra “vocal for local” has just taken off worldwide.

“We have a direct flight between Sharjah and Srinagar which highlights the direct connectivity between the UAE and J&K and will be essential to maintain continuous access,” said Ranjan Prakash Thakur, Principal Secretary, Industry and Commerce, J&K, during of the inauguration of the J&K. Week at the India Pavilion at Expo 2020 in Dubai, Gulf News reported.

He added that tourism will be a crucial sector for growth and Kashmir will become a key destination for the development of hotels, hospitals, looms and horticulture, while Jammu will focus on production, pharmaceuticals, inland container depots and real estate sectors.

Today, DP World plans to develop a logistics infrastructure at J&K, which gives new impetus to the nascent relationship with the two governments. Separately, Century Financial, the United Arab Emirates financial services company, signed a memorandum of understanding with the J&K government at a special event chaired by Lieutenant Governor Manoj Sinha earlier this month and pledged to invest $ 100 million in UT. The investment will cover three hotels and a commercial and residential complex in Jammu and Kashmir.

“We are pleased to see the interest shown by large companies and leaders in the UAE in supporting this vision of our Honorable Prime Minister. Global business and industry are realizing the prospect of opportunities in Jammu and Kashmir: Despite the challenges of the global pandemic, neither the pace of economic and political reforms nor the implementation of key infrastructure projects has slowed down in any way at UT and us, as a responsive administration. , will continue to address business concerns, ”Sinha said.

Additionally, the J&K government has signed critical memoranda of understanding with global investors including Al Maya Group, MATU Investments LLC, GL Employment Brokerage LLC and a Letter of Intent with Magna Waves at Dubai Expo. J&K LG, at the investor summit in Dubai, said that J&K had received investments to the tune of $ 2.5 billion in 2021.

“J&K has gone from a sleepy business destination to a land of opportunity and investment.” he said.