J&K Govt signs MoU with Century Financial for $100 million investment in JK

DUBAI: In its ongoing efforts to strengthen the Hospitality & Tourism Industry in Jammu Kashmir, the J&K government today signed an MoU with UAE’s pioneering financial services company, Century Financial that will invest $100 million in the Union Territory. The MoU was signed in a special event presided by the Lieutenant Governor, Manoj Sinha.

The investment will cover 3 hotels and one commercial cum residential complex in Jammu & Kashmir. The owner of Century Financial Sh. Bal Krishen is originally a native of the Doda district of Jammu and has been a forerunner in supporting his home region.

The MoU was signed by Principal Secretary, Industries, J&K, Sh. Ranjan Prakash Thakur and Sh. Bal Krishen, Owner of Century Financial in the presence of Sh. Aman Puri, Consul General of India in Dubai and several distinguished UAE-based business owners, investors, and entrepreneurs.

Speaking on the occasion, Lieutenant Governor, Manoj Sinha said “Honorable Prime Minister Shri Narendra Modi is committed to the development of the Union Territory of Jammu & Kashmir. We are happy to see the interest shown by UAE’s big business houses and leaders in supporting this vision of our honorable Prime Minister. Global business & industry are waking up to the vistas of opportunity in J&K.”

“Despite challenges of global pandemic, neither the pace of economic and policy reforms nor the implementation of key infrastructure projects has slowed in any way in UT and we as responsive administration will continue to respond to business’s concerns”, said the Lt Governor.

Lieutenant Governor further congratulated Sh. Bal Krishen for his commitment and passion to support his home region and thanked him for this grand gesture.

Sh. Ranjan Thakur, Principal Secretary, Industries and Commerce J&K, stated “Jammu & Kashmir is one of the safest places in India to do business offering the most attractive incentive schemes for investments in the union territory compared to other states in the country.”

“I have always believed that Jammu & Kashmir has tremendous investment potential and there cannot be a better time than now. Making a significant contribution to my home region has always been my dream and today as I see this dream getting realized, it’s immensely gratifying” said Century Financial’s owner, Bal Krishen.

The event was held at The Oberoi Dubai, Business Bay.

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