KATHMANDU, Aug 15: Finance Minister Dr Swarnim Wagle has urged Nepalis living abroad to invest in Nepal with confidence.
In a video message, Dr Wagle expressed this view while extending his best wishes to the 11th Asia-Pacific Conference of the Non-Resident Nepali Association (NRNA), which began in Guangzhou, China, on Friday.
Stating that the government is implementing policies and strategies to create a conducive investment climate, generate employment opportunities and encourage work in the artificial intelligence and information technology sectors, he urged Nepali expatriates to invest in Nepal with confidence. He called for investment in sectors such as tourism, information technology, green energy, high-value agriculture and import substitution.
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Minister Dr Wagle said the government is working at a rapid pace to deliver results. He said the government is seeking to create an investment-friendly environment by introducing 27 new laws through the budget and has paid special attention to creating decent employment opportunities.
According to Dr Wagle, the government has initiated tax reforms to increase public revenue, marking the beginning of broader reforms in its first year in office. “We started reforms in the first year, and broader reforms will move forward in the second year. The results of the reforms will be visible in the third and fourth years. The people will reap the rewards in the fourth and fifth years,” Dr Wagle said.
Underlining the importance of domestic resources in achieving these goals, Dr Wagle sought the knowledge, expertise and capital of the diaspora as sources of external investment.
The finance minister said the party’s manifesto also emphasizes mobilizing diaspora capital and investment, and that the government has taken special initiatives in this regard. According to him, the government is reviving sick industries with the aim of handing them over to individuals and entities with the skills and expertise to operate them effectively. He added that the diaspora could also partner with the government in this initiative.
