KATHMANDU, March 30: Managing Director of Surya Nepal, Abhimanyu Kumar Poddar, has said that repatriating profits from Nepal has never been an issue.
The statement from Poddar, a major manufacturer in the country with foreign direct investment, came as an assurance to investors participating in the summit that they can easily repatriate returns from the country.
"It's a myth that it is difficult to repatriate profit out of Nepal," Poddar said at a discussion program on 'Building Industrial Base and Creating Jobs' during Investment Summit Nepal 2019.
The company is working in Nepal since the last 35 years.
He mentioned that Surya Nepal has had successful investment in local value chains of the country, which today connects, among others, more than 10,000 farmers to the company's manufacturing system.
Likewise, Poddar also shared his experience of doing business in Nepal, stating that the business environment has significantly improved in the country over the years.
He also cited examples of improvement in power situation and the responsiveness of the government. Surya Nepal has also set plans to invest in manufacturing sector, particularly food products in near future.
Poddar also announced that the company was entering into the country's tourism industry and was constructing a luxury hotel in Kathmandu. The company also has a plan of investing another Rs 6 billion in the hospitality sector, he added.