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J&K economy set for higher growth trajectory: PDP

Srinagar, Feb 11 : PDP Chief Spokesman Rafi Ahmad Mir welcomes setting up of maiden dry port in J&K with an initial FDI of Rs 1500 crore.
Congratulating Finance Minister Haseeb Drabu on entering into structural alliance with Dubai Ports CEO Sultan Ahmed Bin Sulayem and signing an MoU in presence of Prime Minister Narendra Modi & Crown Prince of Abu Dhabi Mohammed Bin Zayed, Rafi said that it is a proud moment for people of Jammu and Kashmir that the state is ushering into a new era of development by first time becoming a part of India’s decisive shift in foreign economic policies and performance.
He said that it was an endeavour of the PDP led government is to focus on large-scale investment in the infrastructure sector and rural areas.
Mir said that J&K’s economy is set for a higher growth trajectory on the back of a slew of structural reforms and with consistent and sustained efforts of Dr. Haseeb Drabu, we should be looking forward to a much higher growth trajectory in the days to come. Such path breaking initiatives will generate employment and also I still confidence among the youth to venture in private sector.
Mir said that for years the governments were selling promises of jobs while the private sector was weak, this initiative will ensure to inspire the young to invest in the private sector and subsequently a chain of jobs for locals will be created in the process of such investments.
Earlier, in a maiden and major development, the Government of Jammu and Kashmir last evening signed a Memorandum of Understanding (MoU) here with Dubai Ports World to establish Multi-Modal Logistics Park (MMLP) and transportation hub in the State through Foreign Direct Investment (FDI).
The MoU was signed by JK Finance Minister Dr Haseeb Drabu with the Dubai Ports Chairman & CEO Sultan Ahmed Bin Sulayem in presence of the Prime Minister Mr Narendra Modi and the Crown Prince of Abu Dhabi Mohammed bin Zayed Al Nahyan at Presidential Palace in Abu Dhabi.
The historic MoU would also facilitate, for the first time ever, FDI to the tune of Rs 5000 crore to Jammu and Kashmir, through Joint Venture, over the next five years. “In the first phase an investment of Rs 1500 crore would be made by the Dubai Ports World in the multi-modal logistics parks (Dry Port) which would swell upto Rs 5000 crore over the next 5 years,” Dr Drabu said over phone from Dubai.