KATHMANDU, Oct 3: The government is committed to facilitate business and investment in Nepal, according to Baikuntha Aryal, secretary at the Ministry of Industry, Commerce and Supplies.
Addressing the first Nepal German Business Forum in Kathmandu on Wednesday, he said that several laws supporting business and investment were either underway or being amended as per the need.
“We are developing the procedure, and will come up with the best mechanism to implement these laws in full-fledged manner,” he said. “The government of Nepal is now stable, so is the institutional mechanism. We are working to reduce the cost of doing business in Nepal.”
Speaking on the occasion, Roland Schafer, German ambassador to Nepal, asked all those who are already in South Asia or trying to do business in this region to consider Nepal as a good destination for investment. “Nepal is changing, it has become stable and reliable,” Schafer said.
The forum was organized by the Embassy of the Federal Republic of Germany, Kathmandu, in cooperation with the Nepal–German Chamber of Commerce and Industry (NGCCI) and the Investment Board Nepal (IBN).
A total 90 participants comprising of 28 representatives from 20 German companies and organizations along with their Nepali counterparts from energy, finance, hospitality, food and beverage, infrastructure development, IT/communication, logistics, manufacturing, and tourism and technical and vocational training (TVET) sectors were present in the event.
Addressing the event, Maha Prasad Adhikari, chief executive officer of the IBN, asked German investors to invest in mega projects to further strengthen the ties between the two countries.
Secretary Aryal, calling for investments in Nepal, said that the country had one-stop service center for investors and businesspersons to establish their business in Nepal.
The business forum aimed to bring potential business partners of the two countries together. It was organized to promote Nepal as a place for business and foster job creation as well as investment.
The event was expected to contribute to the bilateral economic relations and inform potential German investors about the improving business climate in Nepal.