The UAE (United Arab Emirates) is looking at India for investment in food processing, logistics and infrastructure. This was stated by Jamal Al Jarwan, secretary general, ministry of economy, UAE, who met Himachal Pradesh chief minister Jai Ram Thakur in Dubai recently.
Appreciating the fact that the two countries were conducting trade worth $60 billion, Al Jarwan stated that the UAE government was endeavouring to make it $100 billion.
He added that the government of the UAE was investing in infrastructure and explained about the surplus sovereign funds of the country and how it was looking at possible investment opportunities.
Al Jarwan explained about various investments in Abu Dhabi and Dubai, and also confirmed that the UAE would participate in the Global Investors’ Meet, being held in Dharamshala.
Yet another MoU (Memorandum of Understanding) was signed between the state government and Ahmed Bin Sulayem, executive chairman and chief executive officer, IMEA-TIFF, and executive chairman and chief executive officer, DMCC, to strengthen and expand existing capacities in agriculture and food sector. Mutual cooperation, bilateral delegations, bilateral trade and investments are some of the activities that would be part of the MoU.
Thakur apprised Al Jarwan regarding immense investment potential available in the state in various sectors like food processing, logistics, tourism, power, etc.
The chief minister also met Mohammed Al Muallem, chief executive officer, JAFZA and DP World.
Muallem said that his group was seriously looking forward to invest in Himachal Pradesh, particularly in the areas of logistics and transportation, besides export and import of agriculture and horticulture produce.
Several MoUs were signed in the presence of the chief minister between the state government and different entrepreneurs. An MoU was signed with MKS Group for investment in a naturopathy resort worth Rs 100 crore and affordable housing worth Rs 150 crore.
Another MoU was signed between the Himachal Pradesh government and the UAE India Business Council for highlighting investment opportunities in the state and facilitating UAE investments in the state.
UAE India Business Council is the official joint business council set up by the governments of India and the UAE for promoting economic synergy between the two nations.
The state delegation also held a meeting with Chandershekhar Bhatia, chief executive officer, Nilgiri Trading.
An MoU was signed between the state government and Nomisma, Banking and Financial Advisory and Nilgiri Trading for the development of luxury resort with prime focus on destination wedding for an amount of Rs 1,000 crore.
Himachal Pradesh industries minister Bikram Singh; additional chief secretaries Shrikant Baldi, Manoj Kumar and Ram Subhag Singh; director, industries Hans Raj Sharma, special secretary Abid Hussain Sadiq; principal private secretary to chief minister Vinay Singh, and representatives of CII (Confederation of Indian Industries), Himachal Pradesh, were also present on the occasion, among others.
