Kathmandu, Oct. 18: Ambassador
of the United States to Nepal Alaina B. Teplitz Tuesday expressed
concerns of the US
over the facilities that the country was offering to the foreign investors.
In a meeting with the Minister
for Commerce Romi Gauchan Thakali at the latter’s office at Singha Durbar, she suggested
that the one stop service (single window) for investors, clarity on the area of
investment to be made by the foreign investors and possible amount of return to
be take back by the investors to be well reflected in the proposed legislation
of Foreign Investment Act.
She affirmed that the US was ready to support Nepal in its development efforts.
Welcoming Minister Thakali’s
statement at the BIMSTEC Business Summit held in New Delhi
on 14th October, she noted that the BIMSTEC process would be helpful
for Nepal
to enhance its connectivity and trade to other members of the region.
During the meeting, issues
relating to promoting bilateral trade and investment and development
cooperation between the two countries were discussed, the Ministry informed in
a press statement.
Minister Thakali requested the US to
increase investment to promote bilateral trade.
He also called upon the US to extend investment along with transfer of
technology in Nepal so as to
increase the production and productivity of those products which have high
export potentials in the US
market.
“As the new constitution adopts
liberal economic policy as the state’s main directive principle for economic
advancement, the US
investors and entrepreneurs need to capitalize Nepal ’s conducive economic
environment as ensured by the constitution,” read the statement.
He cited tourism, hydro-power
and agro-processing as the sectors having high potentials for the producers and
exporters.
The US ambassador recalled the Trade
and Investment Framework Agreement (TIFA) as the milestone document and hoped
that it would bring tremendous opportunities for the businessmen and
entrepreneurs from both sides in the days to come.
TIFA between Nepal and the USA entered into force on 15th
April 2011.
She assured the Minister to
convey his message to American investors and entrepreneurs to increase their
investment in the area of tourism, hydro-power and agro-processing industries.
Teplitz also informed US’s
interest in extending support in value chain in the agriculture, intellectual
property among others.
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