Haryana finalises MoU with Dubai for investment promotion, land development

Three days after Haryana chief minister Manohar Lal Khattar’s official visit to the United Arab Emirates on October 3 and 4, the governing authority of the Emirate of Dubai on Friday finalised a memorandum of understanding (MoU) with the state for cooperation in various economic activities such as investment promotion and land development, including real estate development, industrial parks, IT parks, multi-purpose towers, mixed-use townships, innovation centres and projects related to logistics.

In a statement issued on Friday, Khattar said the MoU will boost investments in Haryana and strengthen the bonds of economic and cultural ties between Dubai and Haryana.

Under the terms of the MoU, the government of Dubai shall identify a suitable entity to assist with identifying the potential areas of collaboration, and assessing the viability of projects, including conducting legal and financial due diligence, feasibility studies, negotiation and finalisation of definitive agreements. It will also support the state government in identifying potential investors based in UAE and reaching out to them.

The state government, on its part, will endeavour to provide financial incentives and other benefits to any and all investments of the government of Dubai, a state spokesperson said.

A delegation led by the chief minister visited the UAE on October 3 and 4 to promote Haryana as a leading investment destination and for marketing key marquee projects of the state such as the Global City in Gurugram and the logistics hub in Mahendergarh district.