NRNs to bring mega projects to homeland

KATHMANDU: The Non-Resident Nepali Association (NRNA) has promised to lobby in its members’ respective countries of residence for mega projects for Nepal.

“We have associations in 55 countries around the globe,” said NRNA president Dev Man Hirachan. “If we can bring one mega project from each of the 55 countries where there is a National Coordination Council (NCC) lobbying with the governments in those countries, there will be 55 mega projects,” he said adding that NRNs could act as bridges between Nepal and the countries of their residence.

“Though NRNs have been investing in small projects since the last six years, the need of the hour is to bring mega investment for the development of Nepal,” Hirachan said without elaborating on the type and size of mega projects.

However, he stressed on the creation of a conducive investment environment for new investors to be attracted to Nepal. “We can convince our friends in the country of residence if there is conducive investment environment in Nepal,” he opined.

The Nepali government has also enter into an agreement with those countries from where it is planning to attract investment as the issue of dual tax is the key to lure investors. “The investors have to pay tax on their income in Nepal and back home also, making Nepal less investor-friendly for them,” said Hirachan. Nepal has to take the initiative for itself to avoid dual taxation to accelerate investment, according to Hirachan, who

is residing in Japan for the last three decades and runs IT, travel agencies and gems businesses.

He also repeated the commitment of NRNs to create a $100 million fund. “We will form a task force to decide where to invest the money,” he clarified. NRNA is in the process of registration and after the registration, the fund will be created.

“A joint task force of the foreign ministry, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and NRNA will be formed soon,” assured Ganesh Kumar, co-ordinator of the Asia-Pacific of NRNA.

NRNA has formed NCC in 55 countries currently and the number is set to increase as Nepalis have reached in most countries of the globe in recent years.

The diaspora can bring in not only money, but also knowledge. “We are thinking of creating a knowledge bank that would help Nepalis learn new skills and technology,” he said.

There is a huge demand for IT professionals in

Japan and Nepal be a good source country for IT experts from Nepal. Apart from IT, Japanes are interested in investing on Hydro and tourism, he said.