Political stability attracts foreign investors

Kathmandu, Mar. 24: Both the government and private sector have said that the interest of foreign investors in Nepal was growing with the political stability and the latest policy reforms.

More than 600 investors and businesspersons, and Non-Resident Nepalis (NRNs) are participating in the summit.

"We are also incorporating more Nepali investors in ‘matching number’ as their involvement is also equally important in motivating the foreign investors," Maha Prasad Adhikari, Chief Executive Officer of the Investment Board of Nepal (IBN) said at ‘Gorkhapatra Sambad’, a weekly dialogue organised by the Gorkhapatra Corporation, publisher of the Gorkhapatra and The Rising Nepal dailies. 

IBN’s Adhikari and president of the Confederation of Nepalese Industries (CNI) Hari Bhakta Sharma deliberated on the current investment climate and preparations of the Nepal Investment Summit 2019 which will be held on March 29 and 30.

“Nepal is a virgin land for business and investment with lots of potential, and the government has made policy reforms to attract investors to the country,” said Adhikari. “However, we should change our working model. An IBN Board meeting will decide further strategies for the follow-up on investment intents expressed during the summit,” he added.

Sharma said that the private sector was on the same wavelength in terms of attracting the investment, which was a must for speeding up the economic progress in the country.

However, he stressed the replacement of irrelevant and complex policies and said that the private sector was encouraged with the proactive steps of the government in improving the investment environment.

He also said that the government should be enhanced and both the government and private sector should collaborate to make the country investment-friendly.

“The formulation of the Public-Private-Partnership (PPP) Act will pave the way for speedy infrastructure development. Likewise, there is policy clarity, process has been simplified and infrastructure is being developed,” he said.

Published in The Rising Nepal daily on 25 March 2019.