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Focus on drawing foreign investment: UK envoy

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KATHMANDU, Sept 24: Ambassador of the United Kingdom to Nepal Andy Sparkes has said Nepal should focus on attracting foreign investments rather than relying on development aids.



Speaking at a panel discussion, during the launch of a book, Unleashing Nepal, authorized by Sujeev Shakya, Sparkes said Nepal has a potential human capital especially for the service industry.[break]



The discussion was organized by Nepal Economic Forum on journey of positive transformation in the Nepali economy. The book provides an update on unprecedented transformation that Nepal has gone through over the past five years, Shakya said.



The first edition of the book was published five years ago.Economist Chandan Sapkota stressed the need to develop infrastructures for sectors like energy, transportation and ICT, among others, for overall development of national economy.



Sirkanth Srinivasmadhavan, managing director of Unilever Nepal Limited, said rising consumption rate is drawing lot of potential investors to the country. “The country, however, should focus on products having competitive advantage,” he added.



“There is an urgency to develop Nepal´s competitive advantage by adopting measures such as leveling playing field for foreign investors, promoting transparency and safeguarding Intellectual Property Rights.”


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