Australian investors are interested to come to Nepal: Budd

Kathmandu, Nov. 20

Australian Ambassador to Nepal Peter Graeme Budd said on Wednesday that the Australian investors were interested to come to Nepal to invest in priority sectors.

"Small and medium investors have shown their interest to make investment in Nepal. If the country creates environment favourable for small investors, Australian investors will come for investment in agriculture, water resource and tourism sectors," he said while speaking at an interaction with Nepali businesspersons at Nepal Chamber of Commerce (NCC).

According to him, investors were more excited to come after the Nepal Investment Summit in March this year.

Ambassador Budd also said that he would take initiation to start direct flight services between Nepal and Australia within his tenure.

"Both the countries have the air flight agreement and once we have commercial agreement, the flight service can be started," he said.

He took note of Australian support to Nepal's community forest and said that it was exemplary practice for other countries as well.

NCC President Rajesh Kazi Shrestha said that the successful organisation of investment summit and the implementation of one-door system for investors have enhanced the chances of more Foreign Direct Investment.

He suggested organising regular road shows in Brisbane, Melbourne, Sidney, Canberra, Perth and other major Australian cities for investment, trade and tourism promotion. He also pointed towards the need of greater participation in the international trade fairs.

Shrestha expressed despair over Nepal's inability to use the duty-free facility provided by Australia and said that export promotion and import management should be done considering the large number of Nepali diaspora there.

Published in The Rising Nepal daily on 21 November 2019.