Nepal suitable place for investment: Investors

Bhawani Rana, Nepal Investment Summit 2019

By Ramesh Lamsal and Ashok Ghimire
KATHMANDU, March 30: The industrialists and investors participating in the ongoing Investment Summit have said the availability of labour and skilled human resources, stable government with political stability and investment friendly environment in Nepal were important elements to attract investment.

During a panel on ‘Investment in Nepal: Exchanges of Experience’ at the Summit, the investors univocally said Nepal is the proper place for investment.

Chairwoman Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Bhawani Rana, said with the completion of political transition, Nepal has entered the phase of economic development. “There is huge labour force; problem of load shedding is almost solved; and industrial atmosphere is created. So, the foreign investors can make Nepal a proper destination,” he urged.

Non Resident Nepali Association ( NRNA) Founding Chairman Upendra Mahato said Nepal is a safe and reliable zone for foreign investment, calling upon the foreign community to invest here.

Asian Development Bank (ADB) Vice Chair Shixin Chen was of the view that Nepal, the middle-income nation, had to invest enormously in the physical infrastructure for its transformation.

“The ADB has its investments in Nepal’s Gautam Buddha International Airport, Melamchi Drinking Water Project and other various projects including the rebuilding of earth-quake damaged schools,” he said, adding that they are ready for further investment for Nepal’s development.

Multinational company Unilever Nepal’s Managing Director Ashish Ray shared his experience that the investment in Nepal had given a high return. As he said, educated human resources available here could be utilised to ensure good profit from other sectors as well.

The Sutlej Hydro Project Chairman Nanda Lal Sharma shared that they were attracted to invest in the hydro sectors seeing the direct profit.

The company is investing in the Arun Third Hydro-project and it would begin to provide profit from upcoming five to six years. Sharma further opined that Nepal’s GDP would increase by four fold if only 50 per cent hydropower could be generated in Nepal.

Similarly, Confederation of Nepalese Industry (CNI) Chairman Haribhakta Sharma shared that even the weather of Nepal was pleasant and friendly so that the labours can work for all times in the year.

He also argued that valuable medicinal herbs could directly contribute to Nepal’s economy. He also urged all foreign investors to invest in the country as the incumbent government was ensuring security to the business.