Saturday, November 4, 2023

FM Saud urges American IT companies to invest in Nepal

Kathmandu, Nov. 2

Minister for Foreign Affairs, NP Saud, held virtual and in-person discussions with Nepali American IT professionals and business owners employed in various companies in the United States and other countries.

The discussion held on Wednesday shed light on the progress of the IT sector in Nepal and the contributions of Nepali-American business owners in its development, informed the Embassy of Nepal in Washington DC of the USA.

"The Minister underscored the political stability in Nepal and the government's unwavering commitment to fostering the growth of IT solutions, attracting investments from IT companies to contribute significantly to creation of rewarding jobs and the overall economic development of the nation," read the statement issued by the Embassy.

The Minister also attended a meeting at the US Chamber of Commerce headquarters in Washington, DC where he witnessed the presentation of the Accreditation of the American Chamber of Commerce in Nepal (AmCham) by the US Chamber of Commerce.

Ajit Shah, Founder Chairman of AmCham Nepal, received the accreditation from the Senior Vice President and Head of International Affairs John Murphy of the US Chamber. With this, AmCham Nepal has become the 130th chapter receiving the US Chamber accreditation.

During the event, Foreign Minister Saud emphasised the need for increased engagement between the private sectors of the two countries. The Minister invited US businesses to explore investment opportunities in Nepal, including in energy, IT, tourism and other priority sectors.

With this accreditation, Nepali private sector has been institutionally connected with the business federation of the world, further strengthening Nepal–US economic linkages, helping to promote trade and investment between the two countries.

Shah shared during the function that AmCham Nepal will organise the first-ever US-Nepal Economic Summit in the first half of 2024 where American businesses around the world will visit Nepal to explore investment and trade opportunities.

According to the Embassy, the function, moderated by Ambassador Atul Keshap, Senior Vice President of the US Chamber, was also attended by the Ambassador of Nepal, Sridhar Khatri and the US Ambassador, Dean Thompson.

Also on the same day, the Minister Saud held a meeting with Senator Chris Van Hollen, during which they discussed the overall context of bilateral relations, emphasizing the importance of exchange between the parliaments.

FM Saud also interacted with the Nepali American business community at the Embassy. During the interaction, he emphasized the government's initiatives to promote investments in Nepal. The Minister responded to a wide array of questions and concerns raised by the participants regarding the investment climate and opportunities in Nepal.

Under Secretary for Civilian Security, Democracy, and Human Rights at the Department of State Uzra Zeya and Senior Director at National Security Council Rear Admiral Eileen Laubacher called on the Minister at the Embassy. 

 Published in The Rising Nepal on 3 November 2023. 


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