The newly-elected office bearers of the Nepal-USA Chamber of Commerce and Industry have expressed optimism that Nepal too can lure some American companies, which have currently set up shops in the booming Indian and Chinese markets. By convincing US companies that it too can provide good business opportunities, Nepal can attract the much-needed foreign investment, create jobs and generate income. For this the government will have to concentrate on its strengths like water resources, tourism, and even non-traditional items like information technology rather than on its weaknesses like the manufacturing industry, which lacks sound infrastructure and technological expertise. Tourism offers a natural advantage to Nepal that could go a long way towards balancing Nepal’s trade deficit with the US. Then comes Nepal’s immense water resources, which could be tapped for generating electricity to potential importers like India. This calls for huge investments in infrastructure, among others. Nepal, being one of the leading suppliers of manpower worldwide, can also take advantage of outsourcing by providing various services from home base and export more labour to lucrative international market. Besides, there are other potential areas such as aviation, medicine, communications and technological know-how that could be explored.

To translate this potential into reality, the policy makers must first come up with a clear vision, devoid of any narrow outlook, to promote long-term interests of the country. Shifting priorities and changing policies as demonstrated by successive governments will only lead to more instability and lack of credibility in the eyes of foreign investors. What we need is a climate conducive to foreign and domestic investment. On the part of the Maoists, they would do well not to hamper development projects and destroy infrastructures. All this requires the government, first and foremost, to keep its own house in order.