As the Non-Resident
Nepalis (NRNs) gathered in the capital for their 8th global
conference and election, a discourse on their investment in Nepal and support
to spur growth continued as in the past. Though such discourse has always been
short-lived, and most of the time useless, the government and people of Nepal
expected that the NRNs would do some magic and investment would begin to pour
in.
If we observed the investment trend of NRNs, there is no room for much
hope. It’s only a few individuals that actually made some investment and
supported in philanthropic works, too. Most of the Nepalis who go to and stay
in the countries like Australia, USA, Canada and some of the European
countries, are least interested to return to or invest in Nepal. Rather, they
are selling their land and properties here and taking money out of the country
via Hundi, thus contributing to the capital flight from this impoverished
country.
Therefore, the government should stop just urging the NRNs or other
foreign investors and start working seriously on improving the investment
atmosphere. It should facilitate the investors with friendly laws, simple
processes and easy visa systems as well as relaxed profit repatriation.
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