At a time when Jammu and Kashmir is seeing a resurgence in violence, Dubai has signed an accord to build infrastructure in the region, the government said on Monday. However no figure for the value of the accord was given.
The memorandum of understanding by the United Arab Emirates has come as the first investment agreement by a foreign government in the region, following the scrapping of special status to Jammu and Kashmir and division of the state into two Union Territories.
The agreement will see Dubai building infrastructure including industrial parks, IT towers, multi-purpose towers, logistics centres, a medical college and a speciality hospital.
“The world has started to recognize the pace (at) which Jammu and Kashmir is traversing on the development bandwagon,” Union Minister Piyush Goyal said in a statement.
According to a statement, different entities from Dubai had shown keen interest in investment in Kashmir.
It must be noted here that investment in the region is fraught with risks as evidenced by a spate of terrorist attacks on civilians. On Monday, the authorities moved thousands of migrant workers in Kashmir to safer locations overnight.
