Added At: 2012-04-19 10:21 PM
Last Updated At: 2012-04-19 10:21 PM
HIMALAYAN NEWS SERVICE
KATHMANDU: The investment climate in Nepal has been improving ‘technically’, according to the British ambassador to Nepal.
“Now, Nepal has to think about how to attract investments as the investment climate is technically improving,” said British ambassador to Nepal John Tucknott, while addressing a team of British and American investors here today.
The 10-year insurgency has deeply affected the economy and the country could not see any large scale investment during
the period, he said, adding that with the change in the political environment in recent months, a lot of foreign investors have shown an interest in investing in the country.
As we finally see the end of the road, it’s time to grow together into a new Nepal that provides opportunities to all, said the ambassador. “Nepal can create lots of jobs and young people do not have to go overseas to send money back.”
Apart from foreign investors, new investments from the current investors are also key, said the envoy hailing the establishment of the Investment Board.
“The conditions and regulations should be eased to encourage them.”
A team of five investors from Britain and the US are currently in Nepal to take stock of the investment climate here. The visitors also hailed the recent change in the political climate and said there is a lot of potential in Nepal.
Briefing the visitors on the current moves of the Investment Board aimed at attracting investment, chief executive of the board Radhesh Pant said that the board will provide a one-window solution to investors.
“It is streamlining the Acts to produce an investment friendly environment,” Pant said, adding that the Investment Board is also working on the framework for incentives, and doing a comparative analysis of neighbouring countries to offer investors a competitive package.
The Investment Board has prioritised seven sectors and is packaging 50 projects to offer to foreign investors.