KATHMANDU, AUGUST 18
The government and the private sector have urged Indian investors to invest in Nepal.
Addressing a programme to welcome officials and industrialists of Utkal Chamber of Commerce and Industries who came to visit Nepal from Odisha, India, Industry, Commerce and Supply Minister Dilendra Prasad Badu said that the government has made legal and procedural reforms to facilitate investment in Nepal.
Minister Badu informed that the minimum threshold for foreign direct investment has been reduced from Rs 50 million to Rs 20 million, adding that the government has adopted one-door policy.
Stating that the private sector of Nepal has played a pivotal role for the economic development of the country, he urged Indian investors to invest here.
Citing the example of Dabur Nepal, Unilever Nepal and other companies that have invested in Nepal and generated huge profits, President of Confederation of Nepalese Industries (CNI) Bishnu Agarwal urged Indian investors to invest in Nepal.
"There are huge investment potentials in cement, mining, hydropower, and information technology," he said. "Also, the possibilities of high returns are massive here as 77 Nepali products have been provided customs and quota free facilities by the United States."
Chandra Prasad Dhakal, senior vice-president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), requested the Indian investors to invest confidently in Nepal as the both countries share similar political, social, cultural and economic relationships.
Highlighting the special bond in social, cultural and economic aspects between Nepal and India, President of Nepal Chamber of Commerce Rajendra Malla and President of Federation of Nepal Cottage and Small Industries Umesh Prasad Singh informed about the suitable environment for investment in tourism and infrastructure sectors.
President of Utkal Chamber of Commerce and Industry Brahma Mishra said that Nepal is a suitable destination country for investment.
He further said the confidence of the Indian investors has been boosted by the welcoming gesture of the Nepal government and the private sector.
Meanwhile, the event saw business-to-business (B2B) discussions between Indian and domestic investors in the fields of energy, mining and real estate, steel, textiles, agriculture, food and packaging, services and tourism, education, health, and information technology.
A version of this article appears in the print on August 19, 2022 of The Himalayan Times.
