KATHMANDU, JUNE 16
Prime Minister Sher Bahadur Deuba urged non-resident Nepalis across the globe to channel their capital and technical and business skills for the development of the nation.
Speaking during a one-day seminar titled 'Citizenship, Investment and Foreign Employment', organised by the Non-Resident Nepali Association (NRNA) here today, PM Deuba said that he is optimistic about the effective implementation of policies and programmes of the government as it has addressed several issues raised by NRNA.
"The government of Nepal has been cooperating with NRNA since its inception. And this time the upcoming budget and government's programmes and policies have also endorsed several proposals and addressed various concerns raised by the NRNA. I hope that the effective implementation of the policies and programme will further strengthen the role of Nepali emigrants in the economic development of the country," Deuba said.
Stating the upcoming budget has announced several policies to attract investment of NRNs, he urged them to invest in Nepal.
"In the upcoming budget, the government has decided to reduce the minimum threshold for foreign investment from Rs 50 million to Rs 20 million, and also to make arrangements for FDI approval of up to Rs 100 million through the automated system," he said.
"Likewise, the government will also allow non-resident Nepalis to invest in the secondary market and will put measures in place to reserve 10 per cent of initial public offerings (IPOs) to Nepali migrant workers."
Meanwhile, he vowed to address other issues including that of citizenship, and protection of NRNs' investment, among others.
Acknowledging the government has addressed several concerns and issues raised by NRNA in the upcoming budget, NRNA President Kul Acharya urged revision of the Citizenship Act.
"The NRNA is exuberated with PM Deuba's recent remarks about endorsing the citizenship bill through the session of House of Representative. If the NRNs' citizenship issue is resolved, the country will receive more foreign investment, the second generation of NRNs will be connected to Nepal, and NRNs will no longer be required to dispose of their properties in Nepal. Revising the related act will be the cornerstone of economic growth of the nation," said Acharya.
He also requested the Election Commission to make necessary arrangements so that the Nepali Diaspora is also able to participate in the upcoming federal election. Also, he called upon the government to issue the NRNA card to those who can't get Nepali citizenship.
Minister for Foreign Affairs Narayan Khadka, Minister for Labour, Employment and Social Security Krishna Kumar Shrestha, among others, were also present during the closing session of the seminar.
A version of this article appears in the print on June 17, 2022, of The Himalayan Times.
