Nepal Seeks Foreign Investment to Bridge Development Gap, Says Former PM Deuba

Nepal Seeks Foreign Investment to Bridge Development Gap, Says Former PM Deuba

Sher Bahadur Deuba, Chairman of the Nepali Congress and former Prime Minister of Nepal, spoke at the two-day investment conference in Kathmandu, emphasizing the importance of foreign investment in addressing development challenges.

Deuba accepted the immense development potential of Nepal, but admitted that there are challenges in obtaining enough capital and suitable technology. The speaker highlighted the nation's open investment system, encouraging international involvement in different industries.

"Nepal's investment regime has become more open to foreign investment, with a liberal approach towards areas available for investment, tax policy, and income repatriation," Deuba explained. He highlighted agriculture, tourism, infrastructure development, mining, manufacturing, hydropower, and information technology as crucial sectors with the potential to greatly impact the economy through domestic and foreign investment.

Deuba emphasized the government's dedication to attracting foreign investment by fostering bilateral agreements and creating a conducive business environment. The speaker highlighted the benefits for investors, including flexible labor laws, a dynamic and enthusiastic workforce, dependable electricity supply, and easily accessible local raw materials.

Deuba also emphasized the importance of efficient registration processes and a convenient one-stop service for both major public-private partnership projects and smaller investments. The speaker highlighted the agreement among prominent political parties on the importance of encouraging foreign investment and ensuring stability in investment-related matters.

The former Prime Minister emphasized the significant contribution of the market and private sector in fostering economic growth within Nepal's democratic framework. The government emphasized its dedication to promoting social justice and inclusive representation, while also creating a conducive environment for investment and business activities. Deuba emphasized Nepal's commitment to treating all foreign investors equally.

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