Azad Jammu and Kashmir is rich in water and mineral resources and nature has been generous in bestowing scenic beauty to this part of the world. Present regime of Azad Jammu And Kashmir has granted a number of incentives to the investors for promotion of Industrial activities in the State.
The State of Azad Jammu and Kashmir offers great opportunity to the investors, including five lac overseas Kashmiri nationals possessing dual nationality to invest in industrialization, Hydel power generation, Mineral exploitation, Kashmiri Handicrafts and Tourism industry.
Key Benefits and Facilitations by Govenment
the intending investors that they will get required assistance from the Government of the state and every step will be taken to guarantee the protection of their capital investment.
At the time of independence in 1947, the economy of Azad Jammu & Kashmir was on subsistence level. It was early 70’s, when economic development of the area started. Despite financial constraints, efforts were made in developing infrastructure for the rapid development of the area. The State of Azad Jammu & Kashmir by virtue of its topography, meteorology, hydrology and administrative set up provides adequate opportunities of investment in various sectors. The Govt. of Azad Jammu and Kashmir is encouraging investment in the following sectors.
Azad Kashmir Mineral & Industrial Development Corporation (AKMIDC), a state enterprise of the Govt of AJ&K, was established in 1971 under Act XVII. The Corporation soon after its creation started mineral exploration & evaluation activities in the state which are continued till now. The geological environment of AJK is comprised of three types of rocks, i.e. Sedimentary, Igneous and Metamorphic. The type of mineral deposits found are; Industrial Minerals, Gemstones, precious Metals and Base Metals. The Industrial minerals and base metals are found in all the three rock type and thus spread in the whole of the AJK territory, whereas gemstones are confined to metamorphic terrain and thus occur in the upper parts of Neelum Valley.
The most economically promising mineral deposits are ruby, graphite, bentonite, granites & cement materials and AKMIDC prepared comprehensive studies of these deposits. The worth of proven mineral deposits is more than Rs. 70 million.
The tradition of Kashmiri crafts can be traced back from the era of pre-recorded history. It has maintained itself and flourished despite the rise & fall of various civilizations. The craft tradition got major boost in the 14th century, when Mir Syed Ali Hamdani visited Kashmir along with several hundred craftsmen, Artisans and experts. This event revolutionized the religious life of Kashmiris and also infused the ideas of productive economy in Kashmir. These Arts and crafts received the state patron-ship during the era of Zain-ul-Abidin. Till the recent time, in AJK development and promotion of Kashmir handicrafts has been of the major endeavors of the government, with a view to promote productivity of the crafts sector, employment generation and diversification of markets.