The post Nepal Government Launches Trade Information Portal – NTIP appeared first on Nepali Sansar.
]]>Nepal Industry, Commerce and Supply Minister Matrika Yadav launched the portal at a program organized at the Ministry on September 19, 2019.
The NTIP has started the portal with the objective to facilitate export promotion and covers all information related to Nepal exports/imports.
This information will be crucial to traders looking to do business and will provide them with all the required guidance.
The Nepal trade information platform includes information on:
- Rules and regulations related to import and export for a given commodity
- Guidance and procedures to secure the required license or permits in a hassle-free manner
- Potential markets for business
- Productions being exported
- Government bodies in charge of imports and exports
- Trade agreements signed with different countries
Speaking at the occasion, Commerce Minister Yadav said that the government launched the trade portal to facilitate the import-export business and urged entrepreneurs to utilize it to the full potential.
He also said that the portal will facilitate good governance through the usage of technology while expressing the government’s commitment to facilitate export promotion.
Source: http://nepaltradeportal.gov.np/
Commerce Secretary Baikuntha Aryal and Federation of Nepal Cottage and Small Industries General Secretary Dambar Prasad Regmi said that Nepal’s new trade portal will help entrepreneurs search market and help in trade promotion.
Executive Director of Trade and Export Promotion Centre Sharad Bikram Rana said that the NTIP would be made more user-friendly in the days to come.
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]]>The post Nepal Investment Summit 2019: Nepal as Favorable Investment Destination appeared first on Nepali Sansar.
]]>Finance Minister Yubaraj Khatiwada Delivers Welcome Address
The much-discussed Nepal Investment Summit unfolded on March 29, 2019 with a welcome note from Nepal Minister for Finance and Summit convener Yuba Raj Khatiwada at 9:00 AM.
Prime Minister KP Sharma Oli inaugurated the summit being held at Hotel Sialtee in Kathmandu. Speaking on the occasion, the Prime Minister said that the development agenda and foreign investment enjoy consensus in Nepal.
All political forces in the Nepal parliament stand united to welcome and support foreign investment in the country.
Prime Minister Oli’s Key Note Speech
According to the Investment Board Nepal (IBN), Nepal has put up 77 projects for foreign investment including 50 government projects and 22 on behalf of the private sector.
As per the Finance Ministry, the government is expecting an overall investment of up to USD 30 billion based on the interest show by various global investors.
Following are some of the key projects being showcased at the Nepal Investment 2019:
- East-West Electronic Railway
- Hetauda Smart City Project
- Kathmandu-Pokhara-Lumbini Railway
- Metro Rail in Kathmandu
- Sunkoshi Hydropower Project
- West Seti Hydropower
Other projects include:
- Cable car projects at various tourism destinations
- Kathmandu Outer Ring Road project
- Resorts and tourism projects
Government Expectations from the Investment Summit
Experts opine that more investment is expected from the summit as majority of the featured projects were chosen after preliminary feasibility studies and amending various laws paving way for more FDI.
The Finance Ministry is expecting at least 12 memorandums of understanding (MoUs) will be signed by multiple investors for different projects during the summit.
Over 600 foreign investors from 40 countries (including high-level dignitaries) are taking part in the summit.
China tops the list of Nepal Investment Summit 2019 visitors with a record of 265 investors and delegates.
Likewise, the summit will witness the participation 120 Indian, 21 Japanese and 19 Myanmar visitors. Representatives from Canada, Germany, USA, UK and South Korea are also participating in the summit.
Among the development partners and multinational companies, Myanmar Union Minister for Investment and Foreign Economic Relations U Thaung Tun, World Bank Vice President Hartwig Schafer, ADB Vice President Shixin Chen Multilateral Investment Guarantee Agency (MIGA) Chief Keiko Honda, and Economics and Private Sector Development at the International Finance Corporation (IFC) Vice President Hans Peter Lankes have come to attend the event in Kathmandu.
According to summit organizers, 10 sessions are scheduled for discussions on different issues of investments in Nepal. Muthoot Group Chairman M.G. George Muthoot and Meinhardt Group Executive Chairman Shahzad Nasim are among the keynote speakers at the event.
Unified Security for Nepal Investment Summit
In view of the upcoming Nepal Investment Summit 2019, the government instituted the unified security plan in Kathmandu Valley.
According to the Ministry of Home Affairs, the government adopted a special security system to maintain law and order during the two-day event. This includes the Nepal Police, Armed Police Force and National Investigation Department.
Moreover, security personnel dressed in civil dress and a mobile patrolling team have also been stationed to enhance the security, averting any unlawful activity.
Ministry Spokesperson Ram Krishna Subedi said that over 7,000 security personnel from all three security forces and traffic police were deployed in various key-summit related locations including the airport, Hotel Sialtee and guest-residing hotels.
Nepal Police Spokesperson Uttam Raj shared that as many as 4,200 Nepali Police personnel alone have been deployed for security of persons attending the investment summit
Background
The two-day conference is aimed at promoting Nepal as a promising investment destination.
“The main objective of the event is to project Nepal as a favorable investment destination by unveiling potential opportunities for investment in sectors such as Energy, Tourism, Industry, Transport Infrastructure, Information and Communication Technology and Agriculture,” the government said in an official release.
As per the release, the government is planning to utilize this forum to announce a range of policy reforms and incentives to attract investors.
The Summit will provide a platform for global investors to deepen their understanding of the investment environment and opportunities in Nepal, adds the release.
Salient Features of Nepal Investment Summit 2019
1) Topics To be Discussed:
- Investment Opportunities in Nepal
This session includes a detailed presentation on improved business climate in Nepal with a focus on recent policy reforms undertaken by the government and showcasing of potential projects for studies and development. - Investing in Nepal: Experience Sharing
In this session, existing investors (foreign/NRN/Nepali) and other relevant development partners will share their experience of working in the Nepali market.
2) Focus Areas:
- Sharing policy reforms undertaken by the Government of Nepal
- Sharing potential projects both for studies as well as for the development
- Receiving first-hand knowledge and feedback on policy reforms from key business players in/entering Nepal
- Providing a networking platform for business leaders
- Encouraging public-private partnership
3) Allied Activities:
- Sector specific information center
- B2B, B2G meetings
- Project site visits on request
- Mountain flights and other tour packages on a direct payment basis
4) Target Sectors:
- Energy
- Information and Communication Technology
- Tourism
- Industry
- Transport Infrastructure
- Agriculture
5) Target Audience:
- Investors
- Development Partners
- Diplomatic Missions
- Government Representatives
- National and International Media
- Experts
- Other stakeholders
At a Glance: Invest in Nepal
Overall, the Summit is expecting around 500 participants, including 257 foreign delegates from 21 participating countries and singing of 13.7 billion worth Letter of Intents.
Also Read
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]]>The post Rising Imports Cause Trade Deficit to Nepal appeared first on Nepali Sansar.
]]>As the latest reports say, the country’s trade deficit widened 40.3 percent in the first four months of the current fiscal year, majorly attributed to the rise of imports by the agriculture and fuel goods.
According to Nepal Trade Export Promotion Council, the trade deficit was measured at NPR 454.47 billion as of mid-November 2018, with exports of tariff-targeted goods balancing the trade.
While the import bill is soaring at NPR 483.75 billion, showing a 38.1 percent rise over the previous record, the export earnings showed a little rise of 10.6 percent up to NPR 29.28 billion.
Overall, the export-to-import earning ratio shows exports standing at NPR 1 /- against import expenses of NPR 16.5/-.
Over dependence on imported goods, as a result of challenges in production and supply, resulted in this widening trade deficit, says Suyash Khanal, Deputy Executive Director, TEPC.
“Although exports of yarn, carpet, iron products, tea and textile are getting better, they are not enough to balance the ever-increasing trade deficit,” Suyash adds.
Fuel, the Biggest Contributor to Deficit
Fuel stands out to be the biggest contributor the trade deficit. Nepal’s petroleum product imports in the first four months of the current fiscal amounted to NPR 69.07 billion in revenues, showing a rise over 68.2 percent, year-on-year.
Iron & related products are second in the list accounting to NPR 58.2 billion worth imports during the four-month period, up 62 percent Y-o-Y, majorly due to high infrastructure & reconstruction activity across the nation, adds Khanal.
Nepal’s agricultural imports are next in the list growing in costlier. According to TEPC, the share of agro & petroleum imports was 30 percent of the total import bill during the review period of the current fiscal.
Export Earnings
Yarn exports witnessed a new high of 19 percent to NPR 2.93 billion during the first four months of the fiscal year, with around 13 percent contribution to the export basket. Woolen carpet exports also increased 17.9 percent to result in NPR 2.76 billion earnings.
Readymade garment is another area that contributed to export earnings with 12.1 percent rise to NPR 2.40 billion in revenue.
Import aside, iron & related products also contributed to exports by showing a 47 percent rise to NPR 2.21 billion.
According to Khanal, Nepal needs to make strategies for promotion of its products in the international market for good incomes and balanced trade. He reports positive signs in promoting tariff-targeted goods.
“We must diversify our export basket, particularly handmade goods which are in high demand in the overseas market, so that our export shipments increase rapidly,” adds Khanal.
Meanwhile, Posh Raj Pandey, Executive Chairman of the South Asia Watch on Trade, Economics and Environment, noted that the country should start exploring niche markets to expand their export earnings.
“Nepal needs to sign bilateral agreements to promote export of specific goods to the countries where their demand is growing,” Pandey adds.
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]]>The post Govt. Extends Additional Support to Micro Firms appeared first on Nepali Sansar.
]]>In continuation to the existing Micro-Enterprise Development Program (MEDP), the government has recently announced its additional budget of Rs1.09 billion for the development of micro enterprises during 2018-19.
Under the new plan, the government is preparing to distribute funds for micro enterprise development across local and provincial governments.
MEDPA, An Enhanced MEDP
After the initial establishment to encourage socially-excluded groups through off-farm employment, the government internalized MEDP as the Micro Enterprise Development for Poverty Alleviation (MEDPA) in December 2017.
According to the Secretary for Ministry of Industry Yam Kumari Khatiwada, the government is planning to implement the program using domestic resources.
“The ministry is in the process of formulating a directive to run the program, which will soon be sent to the Cabinet for final approval,” says Khatiwada.
According to the Ministry, enhancing operations at the grassroots level, boosting the product quality and improving market access are among key challenges pertaining to the implementation of MEDPA across the country.
Progress So Far
According to Khatiwada, the Ministry has so far reached out to poor communities across more than 500 local units encouraging them to operate micro enterprises.
Over the last two decades, the program has benefited lakhs of Nepalis across 77 districts by providing direct jobs to more than 170,149 and indirect opportunities to 172,425 people across the country.
A 2014 MEDP study reports that the program has improved the lives of more than 5 lakh people across the country.
“A large number of women in particular have benefitted from the program. Among them, 74 percent were women and 26 were from the Dalit community,” says the Ministry.
Through the program, the government aims at cutting down the number of workers moving out of the country for jobs by encouraging them to set up micro and small enterprises.
Nepal Government formed MEDP in 1998 with the support of the United Nations Development Program (UNDP) and Australia and has been making efforts to encourage micro enterprises across the country.
Let’s hope the latest move in this regard will help the government in realizing the true potential of the program!
Also Read: Nepal Employment Status: 2.8 Lakh Jobs Per Year Need of the Hour, says World Bank
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