Kathmandu, Dec. 3
Minister for Industry,
Commerce and Supplies Anil Kumar Sinha has expressed serious concerns over
capital flight and said that risks for business should be minimised to
encourage investment within the country.
"Investors want
security and good return on investment. But various risks existing within the
country have discouraged local investment," he said while addressing a
seminar on 'National Action Plan on Business and Human Rights (BHR) for
responsible business conduct and good governance' organised by the National
Business Initiative (NBI) in Kathmandu on Wednesday.
According to him, some
investors have said that although they wanted to invest in Nepal, prevailing
uncertainty and insecurity had forced them to take the capital out of the
country and expand business in other countries.
"Businesses must
earn profits. There won't be any business without profit but it should be
reasonable and guided by ethics and social responsibility," he said.
Minister Sinha said
that although the country has formulated the National Action Plan on BHR, its
sincere implementation is challenging.
He stated that it is a
national agenda and common responsibility of all to conduct business
responsibly with consideration to labourer, society, environment and quality of
products.
He appreciated the private
sector for its steady contribution to employment and economic growth during
various political and natural challenges including the armed conflict,
earthquake and COVID-19 pandemic.
"We are putting
efforts to create positive and conducive environment not only for election but
also for investment and business. I would like to urge the private sector offer
donations remaining within rules and ethics," he said.
Stating that BHR is
economic and strategic policy, Minister Sinha said, "Where there is lack
of good governance and transparency, trust erodes and risk to investment and
security increases."
Earlier, the human
rights were limited only between the state and its citizens but now it has
entered the domain of business. This is the need of time as it guides the
business relations with the community, consumer, workers and environment, said
the Minister.
President of the NBI Kush
Kumar Joshi said that businesses must have rights to run peacefully and must be
responsible to the society.
"Prosperity is
not possible without peace and without peace prosperity can't be sustained,"
he said while adding that the recent political turmoil has reinforced that good
governance must be promoted everywhere and serious attention should be paid to
the demands of the youth.
Joshi said that Private
sector has employed more than 5 million people and has moved ahead together
with the government during the difficult times including natural disasters but
it is yet to earn the respect and prestige
"We want to
support the government in the upcoming elections wholeheartedly but we must be
protected from the forceful donations and extortions in the name of election
and political campaigns," he stated.
Deputy Resident
Representative of UNDP in Nepal Julian Chevillard said that currently livelihood
and long-term investments are at risk in Nepal. "However, it is
encouraging to see the progress on BHR NAP so far especially coinciding with
the graduation of Nepal from an LDC to a developing nation," he said.
Chief Commissioner of
the National Human Rights Commission Top Bahadur Magar stressed that the rights
of all stakeholders must be protected while there should be minimal damage to
the environment.
"The state and
business both should be proactive to the protection of the right of indigenous
communities," he said.
Joint Secretary of the
Ministry of Labour, Employment and Social Security (MoLESS) Nischal Raj Pandey
said that following recent vandalism on businesses, there is a realisation that
they should be proactive in risk mitigation rather exhibiting reactive
initiatives.
Published in The Rising Nepal daily on 4 December 2025.
