UAE keen to invest in Himachal Pradesh, says CM

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SME Times News Bureau | 25 Jun, 2019
The United Arab Emirates is keen to invest in food processing, logistics and infrastructure of Himachal Pradesh, Chief Minister Jai Ram Thakur has said.

At a meeting with Jamal Al Jarwan, Secretary General of the UAE's Ministry of Economy, in Dubai, Thakur apprised him of the investment potential in the food processing, logistics, tourism and power sectors in Himachal, the state government said in a statement on Tuesday.

Jamal said the UAE government was endeavouring to take the India-UAE trade to $100 billion from $60 billion. Speaking of the surplus sovereign funds, he said the UAE was looking at possible investment opportunities.

He confirmed the UAE's participation in the Global Investors Meet at Dharamsala, Himachal Pradesh, in November.

Thakur also met Mohammed Al Muallem of the DP World, a global port operator. Mohammed said his group was looking to invest in Himachal Pradesh, particularly in logistics and transportation besides export and import of agriculture and horticulture produce.

Several pacts were signed during the Chief Minister's visit. M.K.S. Group signed a pact for Rs 100 crore investment in naturopathy resort and Rs 150 crore in affordable housing.

An MoU was also signed for development of a Rs 1,000 crore luxury resort with focus on destination wedding.

A memorandum of understanding (MoU) was signed between the state and the UAE India Business Council for highlighting opportunities in the state and facilitating investments by the UAE.

The UAE India Business Council is the official joint business council set up by the governments of India and the UAE for promoting economic synergy.