KATHMANDU, July 19: Minister for Finance Dr Prakash Sharan Mahat has urged Indian investors to spur investment in Nepal with confidence as Nepal is a fertile land from investment and returns perspectives.

In his address to a program hosted by the Gujarat Chamber of Commerce of India in Gujarat on Tuesday, Finance Minister Dr Mahat called on the Indian investors to flow investment in Nepal, according to the Ministry of Finance.

He said Nepal has recently signed an agreement to export 10,000 MW electricity to India which would resultantly incentivize hydropower production in Nepal and also open up several avenues for the industries to supply power in higher quantities.

He further noted that Nepal is in a situation to ensure hydropower supply all time at a cheaper price and the goods produced in Nepal also get easy access to India which he said would enable an environment for investment promotion.

Finance Minister Dr Mahat urged the Indian business community to confidently make investments in Nepal as there is no trouble at policy level in returning the yields to their home country.

Dr Mahat went on to say that there are abundant opportunities for investment in agriculture enterprises, information technology and tourism besides energy production.

The advancement of the information technology sector is gaining momentum in Nepal, Dr Mahat said, adding availability of cheaper human resources can promote competitive market capacity.

Also speaking on the occasion, Senior Vice-Chairperson of Gujarat Chamber of Commerce and Industry Sandeep Engineer said the industrialists and entrepreneurs of Gujarat are interested in expanding investment and operating businesses in Nepal and urged the Nepal government to facilitate the process for the same.

At the program, officials of the finance ministry and New Delhi-based Nepali Embassy officials briefed the Indian business community about the scope and potentials of investment in Nepal.

 
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