Kathmandu, February 24

Prime Minister KP Sharma Oli, who is on an official visit to India, has said that Nepal offers excellent opportunities for growth to industries.

PM Oli made the statement while visiting the head office of Hindustan Unilever Ltd (HUL) today along with his wife, Radhika Shakya, Cabinet ministers, ambassador of Nepal to India, and business leaders from the country.

According to the media release issued by HUL today, PM Oli also assured that the policies of his government would foster growth of existing and new industries in Nepal.

He added that Unilever Nepal Ltd is an excellent example of how businesses have prospered and grown in Nepal and at

the same time catalysed local development through direct and indirect employment, the statement adds.

PM Oli was welcomed by HUL CEO and MD Sanjiv Mehta and his wife Mona Mehta, and Unilever Nepal Chairman Pradeep Banerjee and his wife Sarmistha Banerjee. HUL Joint Venture Partner and Director of Unilever Nepal Ltd Ravi Bhakta Shrestha was also present on the occasion.

“Nepal holds a lot of significance for us culturally, socially as well as in our business. Unilever Nepal happens to be one of the successful operating units among Unilever countries contributing significantly to the growth of local industry

and economy,” the statement further quotes HUL CEO Mehta as saying.

Established in 1992, Unilever Nepal is one of the most successful companies operating in Nepal.

In 2014-15, Unilever Nepal Ltd’s revenue from operations stood at Rs 4.89 billion and business grew by 12 per cent despite the challenging operating environment. Net profit was Rs 1.03 billion and dividend per share was Rs 990, a growth of 15 per cent.

Unilever Nepal has one factory located at Basamadi village, Hetauda with 206 employees. It is supported by four job-working units, which have 327 employees.

Hindustan Unilever Ltd is India’s largest fast moving consumer goods company with its products touching the lives of nine out of 10 households in India. It works to create a better future every day, as per the statement.