They even noted that they were not that worried about the political uncertainty, but sought strong assurance on basic issues like protection of investment from threats such as labor stir and policy inconsistency. [break]
“The Russian business community is interested to invest in Nepal, but we need some basic environment to do so,” said Legchilina Tatjana, deputy director of the Department of Foreign Connections and Work with Business Councils, who is also leading a delegation of Russian business community in the 26th annual conference of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI).
The delegation comprises promoters of top Russian multinational companies such as Balashikha Casting-Mechanical Plant and Bento Group Minerals, among others.
Interacting with the Nepali business community and media persons, Tatjana said that the Nepal should be ready to attract a huge amount of investment from Russia.
"The knowledge about the Russia´s ability to invest is pretty low in this country," Sergey V Velichkin, ambassador of the Russian Federation to Nepal said at the program. "We have a lot to offer. Investors from Russia are looking forward to invest in Nepal."
Welcoming the Russian delegation, Jiba Lamichhane, president of the Non-Resident Nepali Association (NRN) highlighted history of Nepal-Russia friendship. "We have a long history, but this is the time to materialize a business relationship," said he, appealing the Russian business community to invest in Nepal.
"I am sure the government here will cooperate with the foreign investors in order to protect their investment," Lamichhane said.
Industry Minister Anil Kumar Jha too committed strong measures from the government to protect the domestic as well as foreign investment in the country. "The government has set up Investment Board and introduced several other measures to facilitate the foreign investors," Jha said, requesting the Russian business community to invest in Nepal without any fear.
Shedding light on the business climate, Upendra Mahato, former president of the NRN, said that the political instability is not always a problem for genuine investors. "Several other countries are going through upheavals. Business people just look for return and government´s support to protect their investment," Mahato said.