Why in news:

• Jammu & Kashmir administration has recently inked six agreements with global investors at Dubai Expo 2020 to bring in investments in the Union Territory's real estate, infrastructure, tourism, healthcare, and manpower employment sectors among others.
• With this Jammu and Kashmir has moved from a "sleeping business destination" to a "land of opportunities" and received USD 2.5 billion in investments last year as stated Lieutenant Governor Manoj Sinh.
• Lieutenant Governor also emphasised that his government will provide an investment-friendly environment to the global investors.

Key Points:

• Lieutenant Governor addressed the Investors Summit in Dubai on Thursday, which was attended by renowned business leaders and investors from the United Arab Emirates (UAE).
• Jammu and Kashmir has signed 5 MoUs with Al Maya Group, MATU Investments LLC, GL Employment Brokerage LLC, Century Financial and Noon E-commerce respectively; 1 LoI between Magna Waves Pvt. Ltd along with Emaar Group and Lulu International.
• From the business point of view, J&K has the capability to provide an opportunity to the industries to compete, correct and collaborate with readily available abundant resources.
• Archaic laws have been removed and more than 890 Central laws, which are the key drivers of socio-economic growth, have been made applicable in the last two years.
• India and UAE are among each other's largest trading partners. And soon, CEPA will be signed, which certainly has the potential to catapult our economic engagement to a very different trajectory altogether.
• Lieutenant Governor also visited the India Pavilion during the ongoing Jammu & Kashmir Week (Jan 3-13) and toured the J&K Pavilion at the Expo 2020 Dubai.
• Various States and Sectors in India have understood the importance of the Expo, and the global exposure provided by the event.
• In addition to the Investor Summit and J&K Week at India Pavilion, Lieutenant Governor also inaugurated a two-day Buyer-Seller Meet on Friday hosted by the Consulate General of India, Dubai in collaboration with Invest India.
• The meet is being organised between sellers from the Union Territory of Jammu and Kashmir and buyers from the UAE under the 'One District One Product' initiative.
• The key focus sectors for the meeting are agri products & processed food and handicraft and textile.
• Lieutenant Governor also invited global businesses to invest in key sectors, including tourism, handloom and handicrafts, to boost the growth of industrial enterprises, cottage and village industries in the Union Territory.
• As part of the Jammu and Kashmir Week, Sinha, along with other government officials from the Union Territory (UT), held various meetings and invited global investors to invest across key sectors like tourism, handloom & handicrafts, food processing among others.
• Given the prominence of Jammu and Kashmir as a tourist destination, it will also participate in a joint session with the tourism ministry on January 12.
• The vision of the UT of Jammu and Kashmir is to promote balanced growth of industry and commerce through sustainable utilisation of natural resources and development of human skills.
• With this vision, the Jammu and Kashmir government is working towards creating an enabling and entrepreneurial-friendly environment that will facilitate the sustainable growth and development of industrial enterprises, including cottage and village industries.
• The UT aims to encourage new investment in industries and facilitate new entrepreneurs.
• With the focus on growth in these areas, the UT is also working towards encouraging and creating conditions that will enable the promotion of human resource skills, creation of new employment opportunities and development of new designs in the handloom and handicrafts sector.