MoU signed between J&K and Government of Dubai for Real Estate development, industrial parks, super specialty hospitals

MoU will help give UT a big developmental push: Piyush Goyal

Jammu and Kashmir administration today signed a Memorandum of Understanding (MoU) with the Government of Dubai for real estate development, industrial parks, IT towers, multipurpose towers, logistics, medical college, super specialty hospital and more.

Union Minister for Commerce and Industry Shri Piyush Goyal highlighted the significance of the day and said that with the signing of the MoU with Dubai Government, the world has started to recognize the pace with which Jammu and Kashmir is traversing on the development bandwagon. This MoU gives out a strong signal to the entire world that the way India is transforming into a global power, Jammu & Kashmir is having a significant role into that as well.

This MoU is a milestone after which the investment will pour in from entire globe and is a big developmental push. Different entities from Dubai have shown keen interest in investment. Development has to be aspired on all fronts and we are on track, he added.

Shri Goyal thanked Prime Minister Shri Narendra Modi and Home Minister Shri Amit Shah for their focus and commitment towards the development of UT of Jammu & Kashmir. Recent industrial package of 28,400 Crore rupees is a testimony towards ensured development.

Terming it a momentous occasion for the UT of Jammu and Kashmir, Jammu and Kashmir Lieutenant Governor Shri Manoj Sinha said that this development journey will help the Union Territory to scale new heights in Industrialization and sustainable growth.

Memorandum of Understanding fosters international cooperation to enable Dubai investment in infrastructure, industrial and medical development in J&K. A Memorandum of Understanding sets a framework for cooperation between Jammu & Kashmir and the Government of Dubai to facilitate and coordinate foreign investment in specified sectors, including real estate, industrial parks, IT and multipurpose towers, logistics, and medical education and super specialty hospital development; the MoU functions as a non-binding instrument to attract investor interest and guide subsequent project-level agreements and implementation arrangements.