Rana urges Qatar investors to invest in Nepal

Kathmandu, Oct. 31: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Bhawani Rana has urged the Qatari investors to invest in Nepal stating that the country has sound investment environment and huge potential for business.

“We have Nepal Tourism Year 2020 and tremendous infrastructure development potential such as international airports, highways, railways, bridges, cable cars and smart cities,” she said while addressing a meeting of Nepal-Qatar Business Meet in Doha, according to the FNCCI.

President Bidya Devi Bhandari and Minister for Foreign Affairs Pradeep Kumar Gyawali also addressed the meet.

She said that major Foreign Direct Investment (FDI) sectors in Nepal were energy-based, tourism, agro-forestry based, information technology, minerals, manufacturing and construction.

“FNCCI and Qatar Chamber of Commerce and Industry (QCCI) can organise Business-to-Business meetings, trade fairs, exchange trade delegations and initiate joint ventures,” she said.

“Current government is very much focused on attracting the FDI through second generation reforms by creating one window policy and repatriation of funds through easy process,” she added.

According to her, after years of political unrest, the country is now ready for investment and moving with common goal of economic growth through shared prosperity.

Indicating to the low amount of trade between the two countries, she said that there was also a huge trade and investment opportunities through better exploitation of comparative advantageous sectors by utilising the remittance.

Rana has urged both the countries to forge a collaboration to promote the export of Nepali agricultural products to Qatar.

Bilateral diplomatic relations between Nepal and Qatar was established on January 21, 1997, and the FNCCI and QCCI had signed a Memorandum of Understanding (MoU) in 2005.

Rana is in Qatar leading a Nepalese Business delegation, in an official visit of President Bidya Devi Bhandari.

The FNCCI said that businessmen from Qatar had shown interest to invest in banking, agriculture, hydropower and other sectors for which the business association had shown its commitment to facilitate.

President of Confederation of Nepalese Industries (CNI) Hari Bhakta Sharma said that food processing, medicines and bio-tech were the major areas for investment in agriculture in Nepal. He said that the Qatari investors could invest in the second international airport, upgrading of the Tribhuvan International Airport, tunnel highway, express ways, Kathmandu-Pokhara railway and other large infrastructure projects.

“Multinational companies are performing in Nepal, and distributing up to 700 per cent dividend. Nepal can be a good location to explore large markets in India and Nepal,” he said.

Published in The Rising Nepal daily on 1 November 2018.