Prime Minister Madhav Kumar Nepal addressed a gathering of Indian business leaders on Wednesday and invited them to invest in Nepal. Prime Minister Nepal said his government was committed to promoting business environment, including security to the businesses, in Nepal. He said the new Special Security Plan readied by the government would be implemented seriously thereby tackling the issues of lack of law and order and chronic strikes that hinder businesses and stifle economic activities.
He assured the Indian business leaders that conclusion of the peace process and writing of new constitution in Nepal will open up a new era of peace and prosperity as well as a great opportunity for businesses.
He also said the government would set a high-level regulatory body at the office of the prime minister that will promptly address the business issues and a High Level Business Board will facilitate big investments in the country. “We look for a closer cooperation and vibrant engagement with India for mutual benefits of the people of the two countries,” said the prime minister, adding, “What we have today does not reflect the true potential that exists between the two countries.”
Addressing the gathering jointly organized by Confederation of Indian Industries (CII), Federation of Indian Chambers of Commerce and Industry (FICCI) and Association of Indian Chambers, former president of CII and Chairman of Tata Communications, Subodh Bhargav said Nepal should do all it can to promote business environment to attract Foreign Direct Investment (FDI). “There should be non-discriminatory provisions to treat local and foreign businesses equally and you should promote an environment where the rule of law is followed and bilateral agreements are duly honored,” he said.
He also emphasized the need to improve infrastructures in the country. “Reliable power supply and better networks will automatically attract investments,” Bhargav said.
G Subba Rao, President of Hydro Business, GMR Group that has shown keen interest in investing in power generation in Nepal also pointed out the need to promote environment for investment and businesses in Nepal. “Nepal must address insecurity, power shortage, labor strike and law and order problem to attract investment.” Given the right environment, Rao said, Nepal can attract FDI in the areas of competitive advantages such as agro industries, maintenance and light engineering, renewal energy, tourism, banking and services, telecom, housing and transportation.
President of Federation of Nepalese Chambers and Commerce and Industry (FNCCI), Kush Kumar Joshi, urged the Indian businesses community to take advantage of emerging investment opportunities in Nepal. He emphasized that worsening trade deficit between the two countries was unsustainable and there was an urgent need to address the imbalance.
Vice President of Confederation of Nepalese Industries (CNI), Narendra Bashnet, urged the Nepali and Indian business communities to come up with new business modalities to promote more sustainable trade models between the two countries.
Source: Republica
No comments:
Post a Comment