KATHMANDU:  'Our motto is Prosperous Nepal, Happy Nepali,' attending the first official programme upon arrival at the administrative capital of India, Prime Minister KP Sharma Oli interacted with representatives of Indian business community and announced aforementioned verse as Government of Nepal's motto. 'I would like to take this opportunity to invite our friends to Nepal to assess the changed business environment. We want to work jointly with our Indian friends on our way to prosperity. We aspire to stand as a developing country and graduate from LDC status at the earliest. Our motto is Prosperous Nepal, Happy Nepali,' PM Oli said. At the India-Nepal Business Interactive Roundtable, the Prime Minister briefly spoke on the need for business community to acknowledge the current changed situation of trade and commerce in Nepal and further requested them to reshape their perception on investing in the Nepali market. Ministry of External Affairs of India, Federation of Indian Chambers of Commerce & Industry (FICCI), Confederation of Indian Industry (CII) and The Associated Chambers of Commerce and Industry of India (ASSOCHAM) had organised the programme. At the prelude of his speech, PM Oli talked about how the now-stable government indicates stability and continuity of policies that would help foster business opportunities and progress in the country. 'Nepal's political transformation is not just a transformation but a comprehensive social, economic, cultural change. We have institutionalised political transformation through our constitution. It is now time for us to realise our next objective - economic transformation!' stressed the PM. 'Following the formation of the strong government, law and order situation has improved. This means Nepal is now safe for foreign investment. Any attempts to disturb law and order situation will be firmly dealt with, ' remarked PM Oli. He, at length, made an effort to ensure the business community that Nepali market is now ripe with business opportunities, favourable for investment and ready for economic prosperity. 'Our bureaucracy is accessible, efficient and accountable. We have implemented a zero-tolerance policy towards corruption. Rule of law and good governance are at the core of governance system,' PM Oli remarked while informing that the government of Nepal has streamlined administrative procedures. 'Indian investors have made investments all across the globe. Why not look at investment opportunities in the next-door neighbour, Nepal?' the Prime Minister questioned. There is a geographical proximity, cultural similarity to make you feel good and the market is now conducive for investments. Seize the opportunity.' 'Investment in every sector is highly profitable, as our representatives have already stated', Oli referred to a presentation by Investment Board CEO, Maha Prasad Adhikari. Federation of Nepali Chamber of Commerce and Industries (FNCCI) President Bhawani Rana and Nepal Chamber of Commerce (NCC) President Rajesh Kaji Shrestha backed PM Oli's claims and spoke on the changed political scenario of Nepal which, after almost two decades of political instability, is now, more than ever, conducive for business and investment. In a bid to reassure the potential investors, Oli remarked. 'We are committed to, the modern term for which is, a liberal economy. The government's key partner is the private sector and we do not believe in nationalisation of private companies.' 'We cannot go against global trends and we will not. A highly powerful Investment Board has been set up by the government including members of the private sector that will facilitate big investors,' Oli encouraged the business community. While talking about facilitating cross-border business and investment, the PM made sure not to leave questions on clean energy unattended. 'We are in favor of clean energy, alternative energy. We are open for investment in these sectors too.' 'The interaction allowed Indian business communities to present suggestions directly to the Prime Minister and his delegation which ranged from tax reforms to empowerment of government institutions involved in attracting foreign investment,' Semanta Dahal, a lawyer and one of the programme attendees, briefed THT about the interaction. 'Making business communities aware about legal and policy reforms undertaken by the government is usually not enough for raising investor confidence, government should be willing to act like partners with the foreign investors', commented Dahal. PM Oli reached New Delhi on Friday morning on invitation of his Indian counterpart, Narendra Modi, for a three-day state visit. READ ALSO:

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