5th June 2023, Kathmandu
In an address at the Nepal-India Business Summit in New Delhi, Prime Minister Pushpa Kamal Dahal Prachanda appealed to Indian industrialists and businessmen to increase their investment in Nepal.
He emphasized that Nepal offers an investment-friendly environment and assured the Indian business community that the government is committed to cooperating with the private sector to facilitate a conducive investment climate.
The Prime Minister stated, “The government of Nepal has taken significant steps to streamline policies and legal frameworks. We are ready to work alongside the private sector to create an investment-friendly atmosphere and attract more investments.”
Highlighting the historical, cultural, and friendly ties between the two countries, India’s Commerce and Industry Minister Piyush Goyal emphasized the need for enhanced trade and investment between India and Nepal. He expressed confidence in the joint efforts of both nations for the mutual prosperity and bright future of their citizens.
Chandra Prasad Dhakal, President of the Federation of Nepal Chamber of Commerce and Industry, pointed out the ongoing efforts to reform investment-friendly policies, rules, and laws in Nepal. He highlighted the success stories of Indian companies operating in Nepal, indicating the lucrative investment opportunities available.
Dhakal identified sectors such as energy, water resources, agriculture, tourism, industry, and infrastructure development as potential areas for investment. The federation assured that the Indian private sector would support and facilitate investments according to the requirements, and encouraged partnerships with Nepal’s private sector.
R. Dinesh, President of the Confederation of Indian Industries, urged industrialists to leverage the geographical proximity between India and Nepal. He emphasized the importance of exploring each other’s markets to foster mutual development.
Sushil Bhatt, Chief Executive Officer of the Board of Investment, highlighted the successful implementation of projects like Arun III as evidence of Nepal’s ease of doing business. He emphasized that Nepal offers a favorable investment climate and encouraged investors to consider the country for their ventures.
As Nepal seeks to attract more foreign investments, the government’s collaborative approach and the promising investment potential in various sectors are expected to generate increased interest from Indian industrialists and businessmen.