PM Oli urges Cambodians to do business in Nepal

Published On: May 15, 2019 08:54 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, May 15: Prime Minister KP Oli, who is currently in an official visit to Cambodia, has urged the business communities of the two countries to jointly explore business opportunities in Nepal. 

Addressing the Nepal-Cambodia Business Forum in Phnom Penh on Tuesday, Prime Minister Oli invited business communities to take full advantage of the opportunities provided by the two important agreements signed between the Nepal and Cambodia to enhance bilateral economic and trade partnership. 

Oli mentioned that government policy, stability, strong and sound regulatory framework, simplification of process and procedures, market availability as well as incentives offered by the government make Nepal one of the preferred destinations for investment and other business opportunities. 

“We have a target of graduating from LDC status at an early date to become a middle-income country and achieving the Sustainable Development Goals by 2030,” he said. “Meeting these targets would require huge investments –in infrastructure, human resources and in the financial sector. Our domestic resources alone are not sufficient to meet these targets,” he said.

While expressing commitment to forge strong partnership with Cambodia in advancing economic ties for the mutual benefit of the people, Oli said he was convinced that Nepal could learn a lot from Cambodia’s rapid economic development and its continuous journey to prosperity. 

“This is more so in the context of the history of conflict in both the countries and our resilience and determination to rebuild our nations,” he said. 

Cambodian Prime Minister Hun Sen also addressed the forum. While praising his Cambodian counterpart for his role in transforming the country’s economy, Prime Minister Oli said that Cambodia had transformed a lot since his last visit five years ago under the dynamic and visionary leadership of Prime Minister Hun Sen. 

“Success does not come automatically. It requires a clear vision, strong commitment, determination and efforts and the right mix of policies, institutions and resources. And, you have successfully proved this,” he said.

He invited Cambodian people to visit Nepal—the birth place of Lord Buddha. 

“To facilitate your travel, we are going to operate an international airport in Bhairahawa, just 22 kilometers east of Lumbini, by the end of this year. We are in talks to establish direct air connectivity between our two countries,” he said. 

Prime Minister Oli paid a courtesy call on President of the Senate and Acting Head of State of Cambodia Samdech Vibol Sena Pheakdey Say Chhum on Tuesday morning, according to the Nepali Embassy in Thailand, which also oversees Nepal’s bilateral relation with Cambodia.

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