Memoranda of Understanding to the tune of ₹2,600 crore were signed at the UEF Trade Summit 2017 that was inaugurated on Saturday at the Chennai Trade Centre.
Haseeb A. Drabu, Minister for Finance, Government of Jammu and Kashmir, and Rishad Bathiudeen, Minister of Industry and Commerce, Government of Sri Lanka, were present.
With an objective to bringing important policy makers and investors together, the summit is organised by the United Economic Forum (UEF) – a chamber of commerce which encourages entrepreneurship among its members, offering them networking and learning opportunity, access to emerging opportunities, innovations, rising markets, government concessions and facilitating project finance, including Sharia-compliant funds.
Structured approach
UEF president Ahmed A.R. Buhari said: “At UEF, we wish to contribute our best to these government initiatives by bringing in a structured approach with the formation of various sub-committees within UEF such as the ‘Advisory and Investment Facilitation Cell’ and ‘Entrepreneurship and Incubation Centre,’ among others. The target is for 1,000 members from the community along with its associates to contribute 7.5% of Tamil Nadu’s GDP by 2030 from 5% currently, an incremental value creation of ₹71,750 crore by 2030. ”
