Kathmandu, January 22
Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has said that the government is ready to carry out policy and legal reforms to manage remittances.
Addressing a programme on remittances and investment in Nepal on Saturday, Minister Paudel said that the government is ready for the necessary support to bring in remittances through legal channels and create a favourable environment for investment in the productive sector.
"We have not been able to bring in a large part of remittances through legal channels. The government is ready to advance the policies, decisions or incentive programmes to bring them into the country through legal channels," Paudel said.
Stating that remittances can be invested in the productive, construction and other sectors for employment generation, Minister Paudel said that the policy and legal hurdles will be identified and addressed.
Paudel further said that the government has shown interest in the concerns raised by non-resident Nepalis regarding citizenship.
"We have made amendments in the Constitution for non-resident Nepalis to obtain citizenship with economic and social rights. We are working to complete it soon.
This will create a more favourable environment for them to obtain citizenship easily and invest in Nepal."
Informing that non-resident Nepalis have drawn attention to the issue of foreign investment and technology act treating NRNs as foreign citizens, he expressed his commitment to address that issue.
Stating that NRNs have made great contributions to the economic development of Nepal, he said, "I hope NRNs will play the role of goodwill ambassadors of Nepal, not only from the point of view of remittances, but also for foreign investment. Nepal is a safe place for investment. It is a rewarding place."
A version of this article appears in the print on January 23, 2023, of The Himalayan Times.
