Govt committed to attract foreign investment: PM

Published On: March 16, 2017 01:53 PM NPT

KATHMANDU, March 16 : Prime Minster Pushpa Kamal Dahal has said that the government is committed to attract the foreign investment in the country for the better economic and sustainable development.

Speaking at the inaugural ceremony of the 6th International Trade Fair in Kathmandu on Thursday, PM Dahal said that the government has already passed several acts in the past few months to create an investment friendly environment for the foreign investors.

 The government has passed and introduced few acts in the past few months which include the Industrial Enterprises Act, the Special Economic Zone Act, the Foreign Investment and Technology Transfer Act, the Intellectual Property Rights Act and the Company Act.

“The government has always been working to introduce new acts and laws for the betterment of the citizen, economic and sustainable development, attract foreign investment and to create employment for the youths in the country”, he said adding “the development of country will not take much time. The end of load shedding in short period of time shows that Nepal can be developed in very short period of time”.

Stating that, Dahal also said that the government was always committed to work with private sector for the economic development. “The successful completion of Investment and Infrastructure summit in capital shows that the government has collaborated with the private sector. The government is committed to create a better environment in the country for public-private partnership model. The government has already announced local election. The formation of local government in the country can easily work on the infrastructure and economic development of the local sector”, he said, adding, “The trade fair of this kind will help to find trading possibility and bring foreign investment in the country.”

He further added that the expo will also enhance trading relationship, help Nepali entrepreneurs to learn from the foreign exhibitors and promote Nepali products in the international market.

Likewise, Pashupati Murarka, President of Federation of Nepalese Chamber of Commerce and Industry (FNCCI) said that the foreign investors are excited as the government has passed various acts in the last few months including the Company Act. “The end of power cut has started to attract foreign investment in different sectors of the country. The government needs to work to become self-reliant on agricultural products as the ratio of import and export has been 13:1. The private sectors are overwhelmed with the announcement of local elections as the country will economically develop after the formation of local government”, he said requesting the government to construct the international standard exhibition hall at the earliest.

Similarly, Bhawani Rana, senior vice-president of FNCCI said that the high lending rate and liquidity crunch has hit the industrialists and entrepreneurs very hard.

The expo, which is organized by Federation of Nepalese Chamber of Commerce and Industry (FNCCI), aims at promoting Nepali products in both domestic as well as international market.

According to the organizers, the expo will showcase handicraft, IT, agricultural, construction, medical, metal, steel, leather, furniture, and fashion products, among others. The expo will have a total of 340 stalls - 35 stalls will showcase Nepali herbal products and remaining 70 will showcase agricultural products.

The expo will have a total of 340 stalls. The expo will see participation of companies from countries like China, Bangladesh, Pakistan and Thailand, among others. Buyers from Japan, Korea and Thailand are also visiting the expo, according to the organizers.

According to the organizers, the expo will promote Nepali products among retailers, wholesaler and distributors, and help to learn, explore and discover new opportunities by interacting with other exhibitors.  Similarly, it will help Nepali entrepreneurs to establish business contacts with potential buyers, suppliers and technology providers for enhancing the business, they added.

Federation of Handicraft Association of Nepal (FHAN) and Nepal Herbs and Herbal Products Association are the co-organizers of the expo. FNCCI is expecting participation of around 500,000 visitors and the transaction of more than Rs 150 million.

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