NCC to facilitate Japanese investment in Nepal

Kathmandu, Jun 1

President of Nepal Chamber of Commerce (NCC), Rajendra Malla, has urged Japanese Ambassador to Nepal, Kikuta Yutaka, to make investment in industry, hydropower, roads and tourism sector in Nepal.

At a meeting with the ambassador on Wednesday, Malla said that the NCC would take initiative with the government to protect Japanese investment. He said, "Nepal has recently made many policy reforms to protect foreign investment. In next year's budget, too, the government has announced that land will be leased for 50 years, and we are committed to facilitating Japanese investment."

To reduce the country's trade deficit with Japan, Malla urged Ambassador Yutaka to open an industry in Nepal with Japanese investment for consumer and export goods.

He expressed his desire to cooperate with the Japanese private sector. It has been 66 years since the establishment of diplomatic relations between Nepal and Japan. Japan has been providing financial and technical assistance to Nepal through its various donor agencies including JICA.

Stating that the government has given high priority to agriculture through the budget, Malla urged the ambassador to take initiative to introduce Japanese technology in Nepal's agricultural sector.

In response, Ambassador Yutaka expressed his commitment to continuing cooperation with Nepal at all economic and social levels. He said that Nepal needs to improve its international competitiveness in order to attract Japanese investment.

Published in The Rising Nepal daily on 2 June 2022.