Investment environment has been improving: White

Kathmandu, Mar. 30: Australian ambassador to Nepal Glenn White Thursday said that the investment environment had been improving in the country.

In a meeting with Minister for Industry Nabindra Raj Joshi at Singha Durbar, he stated that the investment climate was better now due to various policy reforms initiated by the ministry.

White said that the Australian support to Nepal’s development efforts would continue.

“Organic honey produced in Darchula district of Nepal has a very good market in the international market. Therefore, the government should establish a facility to process the honey produced there,” he said.

Minister Joshi appreciated Australia for its support for the Micro-Enterprise Development Programme (MEDEP).

The MEDEP, supported by the Australian Aid and United Nations Development Programme, has created more than 70,000 micro-entrepreneurs in the rural areas of the country.

“Various acts and rules needed to create business-friendly environment in the country have been developed and implemented, and Foreign Investment and Technology Transfer Act is in the final process,” said Joshi.

He stated that the government had formed four high-level committees to follow up with the investors that expressed their intent to invest in various projects in Nepal during the Nepal Investment Summit earlier this month.

“Furthermore, the services and processes at the departments and offices under the Ministry of Industry have been simplified, made more transparent and smart,” he said.

Minister Joshi urged the envoy to support Nepal in enhancing the market of Nepalese goods in Australia.