Kathmandu, February 22:

Nepal Chamber of Commerce (NCC) president Surendra Bir Malakar

today urged Sinagporean businessmen and industrialists to invest in Nepal’s hydropower, electricity, tourism industry infrastructure construction as well as in the Information Technology sector and agricultural industries saying that these sectors had great profitability.

During an interaction programme, ‘Meeting on Investment Opportunity from Singapore’, Malakar said, “Nepal is moving forward in development and peace. Now, investment here would be fruitful.” He also spoke about changes being made in the Industrial Policy and Foreign Direct Investment (FDI) policy.

Representatives from Singapore also agreed that investment would be productive for both countries.

According to them, Singapore is willing to invest in the hydropower sector and is trying to pinpoint many other sectors here where Singapore can invest in.

“Diesel plant and garbage can be used to produce energy,” said Yani Kusni, representative from Singapore, adding that Singapore was ready to provide technical support for this purpose.

Meanwhile, in a press statement NCC voiced resentment against the government regulation regarding taking action against the people not coming in the tax net. According to the statement signed by Malakar, the government is creating an environment of threat and announcing different regulations and actions likely to be taken against people not paying tax, which is awful.