Kathmandu, May 16
Finance Minister Yubaraj Khatiwada has urged Indian industrialists and businesspersons to invest in Nepal without any hesitation. The finance minister made this call while inaugurating the ‘Nepal-India Franchise Investment Expo and Conclave’ here today.
Stating that the present government has created an environment conducive for investment and also carried out policy reforms as well as made arrangements for high profitability and its security, he said Nepal was a suitable destination for investment.
“Nepal is at present on the course towards economic prosperity by welcoming foreign technology and investment. We have made sweeping reforms in the legal framework. The one-stop service centre has also been brought into operation.
The law related to foreign investment and technology transfer too has been implemented,” Khatiwada informed.
He said Nepal could be a suitable country for franchise investment also and there was ample opportunity for expanding investment in the service industry as well in the context of the government declaring to celebrate 2020 as the Visit Nepal Year with the goal of welcoming two million tourists in that period.
Stating that the private sector has huge investment in the tourism industry, Finance Minister Khatiwada urged the private sector to invest more in this sector as tourist arrivals have been increasing every year.
He also said that the government has made preparations for bringing legislation regarding the protection of intellectual property in the near future.
“The government is serious regarding the protection of intellectual property and the patent rights as well,” he said, adding that a bill on this has been prepared and it will be presented in the ongoing session of the Parliament.
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Bhawani Rana mentioned that the investment expo and conclave would be effective even for exploring further opportunities for investments as industrialists and businesspersons from Nepal and India will be holding discussions on this topic on the occasion.
She urged Indian investors to invest in the tourism, industry, hospital, hotel and allied sectors as these sectors also provided ample opportunities for investment.
“There is a stable government with a two-third majority in Nepal at present. The only slogan of the government is economic prosperity and the prime minister has been emphasising on this. The government has also expressed its commitment to take the private sector along with it in every sector,” the FNCCI president said.
India’s Ambassador to Nepal Manjeev Singh Puri said that there were many sectors in Nepal in which investment could be expanded through the franchise and the youths could be attracted to this.
He stressed on the need of expanding the trade relations under a new basis for further deepening Nepal-India ties.
Forty-seven stalls have been set up at the expo and conclave to provide information on business ideas and opportunities.
The event kicked off on Wednesday.
Chief Editor of Franchise India Ritu Maria and expert on franchise Sanjeev Kapoor made a presentation on business ideas and its utility on the occasion.
A version of this article appears in print on May 17, 2019 of The Himalayan Times.