Reforms underway to increase investment: Minister Bhandari

Kathmandu, Mar. 30

Minister for Industry, Commerce, and Supplies, Damodar Bhandari, said that although the government has created a conducive environment for investment, there is still much work to be done.

Addressing the 16^th European Regional Conference of the Non-Resident Nepali Association (NRNA) in Malta, he cited India and China as examples, emphasising that political stability is essential for investment.

"The government's current priority is policy reform. Our laws are overly cumbersome, and therefore, significant adjustments are required. The ordinance was introduced precisely to address systemic issues," said Minister Bhandari, according a statement issued by the NRNA.

He maintained that with the implementation of the new amendments, no task should take more than seven days to be processed. If a task remains incomplete, an appropriate explanation must be provided.

Minister Bhandari further announced that individuals residing abroad will now be able to register businesses in Nepal remotely. Stressing the shift towards digitalisation, he stated that work will now be conducted online rather than through physical queues.

"He also assured the audience that he would relay their concerns to the Prime Minister and work towards resolving them," read the statement.

NRNA President Badri KC underscored that investment thresholds, whether minimum or maximum, should not be a matter of concern for investors.

"There are numerous Nepalis eager to invest in Nepal. However, when the government organises an investment summit, it often overlooks the NRNA. We have repeatedly called for the enactment of an NRNA-specific law, incorporating economic, social, and cultural rights," he said.

According to KC, no one understands foreign investment better than Non-Resident Nepalis. "To keep our future generations connected to Nepal, we must invest in our homeland. Yet, the government continues to frustrate us with bureaucratic hurdles instead of facilitating our citizenship rights," he said.

NRNA Vice President Rozina Pradhan Rai highlighted the increasing number of women migrating to Europe and stressed the importance of heightened awareness.

"In certain situations, women have been subjected to exploitation and undue pressure at their workplaces. This is why vigilance is crucial," she said.

Stating that mental health issues among women have been rising, she suggested that before coming to Europe, it is essential to thoroughly understand the nature of employment and the credibility of the employing company.

Secretary of the NRNA, Tika Gurung, noted the growing international demand for Nepali products such as dried Gundruk, millet flour, buckwheat, and handicrafts.

She emphasised that branding Nepali products for the global market requires collective effort.

Likewise, Santosh Bhattarai, a businessman based in Germany, criticised the complications involved in registering a business, particularly the mandatory provision of a national identity card. He said that until Nepalis living abroad are provided with a streamlined investment process, significant progress will remain elusive.

Rajeshwar Gyawali, Director General of the Department of Industry, acknowledged that the lengthy legislative process often leads to challenges. Nevertheless, the government is striving to facilitate investment for Non-Resident Nepalis, he said.

Himal Chandra Aryal, Under-Secretary of the Investment Board’s Legal Division, maintained that efforts are under way to establish a streamlined, single-window system for all investment-related procedures.

He urged stakeholders not to confine investment to a limited number of sectors.

"We have been exploring ways to attract investment beyond the usual hotel and hydropower industries. We are making efforts in areas such as cable cars and industrial parks," he stated.

Published in The Rising Nepal daily on 31 March 2025.