Ninth NRNA global summit kicks off

Kathmandu, October 15

The ninth Non-Resident Nepali Association (NRNA) Global Conference kicked off in the Capital today.

Inaugurating the three-day event, President Bidhya Devi Bhandari urged NRNs to inject investment into the country and support the government in achieving economic growth and prosperity.

“The political transition has been completed and Nepal today is focusing on economic growth and development. In this context, Nepali diaspora should bring in foreign investment and technology into the country and support its development journey,” said Bhandari.

Similarly, President Bhandari also urged NRNs to invest in mega infrastructure projects and support the upcoming Visit Nepal 2020 tourism campaign of the government. “NRNs have an important role in country’s development. They should explore the prospects of raising investment in tourism, infrastructure and agriculture sectors,” she added.

Addressing the conference, Finance Minister Yubaraj Khatiwada implored NRNs to whole-heartedly invest in the infrastructure sector citing that business environment in Nepal has improved a lot compared to the past.

Informing that along with improving the business environment further, the government is also committed to ensure business security to investors, Khatiwada urged NRNs to tap the potentials in infrastructure, mines, education, health, agriculture and hydropower sectors.

“Business returns is comparatively higher in Nepal for investors. Similarly, the government is serious about addressing business-related concerns, including the double taxation issue,” said Khatiwada.

Similarly, he also asked NRNs to invest in the share market, as the government is in the last stage of allowing Nepali diaspora to invest in the secondary market.

On the occasion, Foreign Minister Pradeep Gyawali said that the Ministry of Foreign Affairs (MoFA) is ready to facilitate NRNs in investment issues. Citing that the MoFA has a separate desk to deal with NRN issues, he said MoFA is ready to address any issue regarding investment of NRNs in Nepal. “NRNs have a major role in encouraging foreigners to invest in Nepal as they have a wide network across various countries,” he said.

The three-day event being organised with the theme of ‘Me, My NRNA and My Nepal’ is being participated by more than 2,500 representatives from 51 countries.

Meanwhile, the NRNA is also electing new leadership through the convention this year. Kul Acharya and Kumar Panta have announced their candidacy for the presidential post at NRNA. However, NRNA’s founding president Upendra Mahato has boycotted the NRNA conference this year citing increasing politics in the association.