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Nepal offers huge investment potential

  

THT

Prime Minister Baburam Bhattarai with other dignitaries during the second day of the 26th CACCI Conference, in Kathmandu, on Thursday.

HIMALAYAN NEWS SERVICE

KATHMANDU: Two successful investors — former president of Non-Resident Nepali Association (NRNA) Upendra Mahato and Ncell’s chief financial officer Tommi Holopainen — shared their experiences and encouraged the private sector delegation from the 20 Asia-Pacific nations to take risk, courage and find local partners to invest in Nepal. They mentioned that the time was opportune and the country offers huge potential in every sector as it has just started its journey towards economic development.

“Every sector in Nepal has huge potential,” said Mahato, addressing the session ‘Investment Opportunities in Nepal’, during the 26th conference of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) here in the valley today.

“There are difficulties in doing business in every country around the world,” he said, adding that it is easier to invest in Nepal as compared to other nations.

This conference will help place Nepal in the business map of Asia and the Pacific, said Mahato, who lives in Russia but has invested in Nepal. “However, don’t go for a quick-fix solution and allocate enough funds for building the capacity of local human resources for a long-term business prospective,” he suggested.

Holopainen, on the occasion, shared Ncell’s experience in investing in Nepal, as the company has invested over $ 500 million in the last four years. “We have started to repatriate dividends to our parent company,” he shared.

The country has simplified the dividend repatriation process, various tax and customs tariff, and industrial policy besides forming the Investment Board as a one-window shop to make it easier for investors, said economic advisor to the prime minister Rameshwor Khanal, outlining the investment potential in Nepal.

“Hydropower, tourism, infrastructure — airports, roads, industrial corridor — agriculture, health, education, mining, and IT/BPO are some of the potential sectors that foreign investors can look at,” he said, informing the delegation about the government’s preparation for 50 mega projects soon.

The meeting with a slogan ‘A Vision for Shared Prosperity’ has seen private sector representatives of — who are eager to share opportunities and collaborate — the Asia-Pacific region.

The march towards prosperity will not be possible without the private sector as the locus of growth, said prime minister Dr Baburam Bhattarai addressing the session.

Nepal is indeed striving for an economic revolution and “I believe that the private sector, with its managerial, financial, and technical prowess, is the best catalyst to move the agenda forward,” he said, adding that the government is committed to ensuring that investors are provided the best investment climate that yields the highest returns with minimal costs and efficient service delivery.

Chairing the session, president of Federation of Nepalese Chambers of Commerce and Industry — the organiser of the conference — Suraj Vaidya urged the visitors to make best use of their visit and forge collaborations with Nepali businesses.

Similarly, addressing the session, ‘Asia in the Global Economy’, finance secretary Krishna Hari Baskota also said that the government has taken various policy measures to attract foreign investment to Nepal.

Comments2

Dear All ! Congratulation for your active participation on NRNA. But,since 2006, Nepal is captured by corrupts and traitors by the hints of RAW, EU and CIA. Among them, the Maoist leaders Prachanda and Baburam Bhattarai-the PM are very active to break the unity and existence of Nepal. So, we request to all NRNA Groups not to invest in Nepal in such bad situation. The traitors' time is going, then the NRNA will free to develop Nepalese Hills, Rivers, Lands and depressed people. In such a scenario that endangers Nepal’s very existence, any of us must not contribute to deteriorate the already unstable communal and ethnicity based harmony. NRN must raise voice against those helping to further deteriorate the situation. Political system is not self-sufficient rather it necessitates a rule, policy and creativity. The royal institution which had protected the nation against imperialist excursions and preserved its identity, tradition and values was disgraced. The kingdom of Nepal, the home of Hindus and Buddhists is neutralizing, and made a slave to foreign powers with the process of Christianization going unabated. How big a crime this is? Is Christianization in the name of secularism? All these issues and facts pertaining to treason must not go unheeded by non resident Nepalese. So, for the sake of 'Sovereign-Nepal', all Nepalese whether in the nation or abroad must push to revive the 1990 Constitution, and with involvement of King must help in heralding a thorough transformation in all sectors including political and socio-economic, and prepare new policy and programs. Thank you. Dirgha Raj Prasai Dirgha Raj Prasai, Kthmandu, Nepal

Indeed we have a tremendous opportunities for investments in Nepal and its very clear that investors from inside as well as outside the country are desperate to make investments in the country in these various sectors. So, what's actually is preventing them from doing so? The government is being more investment friendly and welcomes such investments, no lack of resources as such and people are willing to make investments. In fact, the deteriorating social security, increased lawlessness, inefficient government authorities and above all the lack of political stability are the biggest hindrances on the way of the investments. So nothing going to happen unless BA, Kathmandu

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