Nepal to be positioned in global map to attract FDI
July 30, 2016 01:20 AM NPT
KATHMANDU, July 30: An international consulting firm is targeting to put Nepal in the global map for bringing foreign direct investment (FDI) into the country.
Frost & Sullivan is working on various plans including, organizing an award ceremony, to promote Nepal as one of the best investment destinations in the world, according to Manoj Menon, senior partner and Asia Pacific managing director at Frost & Sullivan. "Likewise, In November, Frost & Sullivan is hosting 'Growth, Innovation and Leadership Forum' in Nepal to encourage a spirit of collaboration among its customers to leverage visionary innovation that addresses global challenges and related growth opportunities that will make or break today's market participants'."
"We are already working on various pilot projects in 14 areas, including software development, research, automotive, telecommunications, capacity building, and energy,” Menon said, adding that as a global consulting firm headquartered in California, United States, Frost & Sullivan has now formally entered Nepal aiming at providing domestic and international clients access to world-class services on market research and analysis to drive innovation, develop growth strategies and tap business opportunities.
“As part of our global campaign to put Nepal in the global map to facilitate foreign direct investment, we have organized a webinar 'Uncovering Nepal: Exploring Trends and Emerging Opportunities', in Kathmandu on Thursday,” he added. "It will help provide insight into potential of key industries like energy and tourism, to its global clients."
Along with former finance minister Ram Sharan Mahat, Physical Infrastructure Secretary Arjun Kumar Karki, Jyoti Group Chairman Padma Jyoti, Surya Nepal Managing Director Abhimanyu Poddar, and Global President and Managing Partner at Frost & Sullivan, Aroop Zutshi, people from around 15 countries of Asia Pacific and Middle East took part, in the webinar on Thursday.
The firm has also opened its office in Nepal, appointing Mangesh Lal Shrestha as its managing director for Nepal.
The Nepal team is currently preparing research reports on telecommunications, healthcare, energy and tourism sectors, according to Menon, who claims that Frost & Sullivan has been working with governments and private sectors both. "We will also work to bridge the gap between policymakers and the private sector from around the globe, including domestic investors." he added.
"We will focus on almost every sector to help the government and the private sector drive innovation," Menon said, adding that the firm will also inform global clients about investment opportunities in Nepal. "Many investors have been considering investing in Nepal despite ongoing political instability. If proper policies are developed, foreign investors are keen to invest mainly in hydropower and tourism related infrastructure," he added.
Mangesh Lal Shrestha, managing director of Frost & Sullivan Nepal, said that the country needs to promote digital technology, skilled manpower and increase the country's publicity in the international market to attract a large volume of investments even amid ongoing political instability.