In a move encouraging India-Nepal business cooperation, Nepal Finance Minister Yubaraj Khatiwada urged Indian businessmen to invest in Nepal.
Khatiwada said this at the ‘Nepal-India Franchise Investment Expo and Conclave’ held in Kathmandu on May 15, 2019.
Commending Nepal as a suitable investment destination, the Minister told Indian industrialists that the Oli Government has created a conducive and secure environment for higher profitability through necessary policy reforms.
“Nepal is at present on the course toward economic prosperity by welcoming foreign technology and investment. We have made sweeping reforms in the legal framework. The one-stop service center has also been brought into operation. The law related to foreign investment and technology transfer too has been implemented,” Finance Minister said in a statement.
He said the government is also welcoming foreign investment and technology to drive the Nepali economy further.
Khatiwada added that the country’s ‘Visit Nepal Year 2020’ campaign, to drive 2 million tourists, provides a better opportunity for expanding investment in service industries.
Stating that Nepal tourism already has good private sector investment, he urged private investors to invest more into the sector considering the rise in tourist arrivals, every year.
The Minister also informed that the Nepal Government is currently preparing to introduce a new Intellectual Property Rights law, which is expected to be registered in Parliament by the end of the current session.
“The government is serious regarding the protection of the intellectual property and the patent rights as well,” read Khatiwada’s statement.
Meanwhile, the Federation of Nepal Chamber of Commerce and Industry (FNCCI) President Bhawani Rana said the investment expo will help the business community of both the nations to pursue investment opportunities in potential sectors.
She highlighted tourism, hospital, hotel, industry and allied sectors as the potential sectors for investment.
“The only slogan of the government is economic prosperity and the Prime Minister has been emphasizing on this. The government has also expressed its commitment to take the private sector along with it in every sector,” said the FNCCI President.
Indian Ambassador to Nepal Manjeev Singh Puri highlighted on the need to focus on franchise investment that attracts youth and stressed on the need for enhanced trade cooperation.
A total of 47 special stalls have been organized at this event, being held from May 15-17, 2019.