UAE private sector interested to invest in Nepal: Envoy

Kathmandu, July 28: Ambassador of the United Arab Emirates to Nepal Saeed Hamdan Al Naqbi Thursday said that the UAE private sector was interested to invest in Nepal.

Speaking at an interaction organized by the Nepal Chamber of Commerce (NCC) in the capital, the newly appointed UAE ambassador said, "The private sector in my country has shown interest to invest in the areas like trade, tourism, water resources, energy and agriculture in Nepal."

Expressing his commitment to put his utmost efforts to contribute to strengthening the bilateral ties between the two countries and enhancing socio-economic development, ambassador Naqbi urged the Nepalese government and private sector to expand the aviation capacity and make the cargo service effective to promote trade and investment relations between the two nations.

Naqbi presenting his credentials to
President Bidya Devi Bhandari

He stressed on the need to remove the double taxation system between the two countries in order to promote Saudi investment in Nepal.

"The private sector can play an important role in enhancing the economic and social relations between the two nations. Therefore, the private sector representation should be ensured in high level government visits and they should be encouraged to participate in international trade fairs and exhibitions," Naqbi said. 

NCC president Rajesh Kaji Shrestha urged the ambassador to facilitate in promoting trade and investment between the two countries.

"We need financing and technology in the reconstruction and rehabilitation of the social life and economic activities which received severe setback due to the devastating earthquake in April and May last year. UAE can help us in this area," he said.

He requested ambassador Naqbi to coordinate in bringing UAE business houses here to participate in Nepal Chamber Expo 2016.

Senior vice-president of NCC Lok Manya Golchha, second vice-president Rajendra Malla and Santosh Kumar Pandey, joint treasurer Raja Ratna Tuladhar and working committee members Rastra Bhushan Chakubaji, Dr. Anjan Shakya, Dipak Kaji Tuladhar and Rajendra Sherchan were present on the occasion.