Kathmandu. President of the Federation of Nepalese Chambers of Commerce and Industry Chandra Prasad Dhakal has urged Nepalese and non-resident Nepalis employed abroad to invest a part of their income in Nepal, stating that there is immense investment potential in Nepal.
Addressing a greeting exchange program organized by the Nepali Public Relations Committee UAE on the occasion of the New Year 2082, President Dhakal said that there is a lot of investment potential in Nepal and that since many areas are yet to be explored, good returns can be obtained by investing in those areas.
“I think there is a lot of potential in Nepal. Many areas are yet to be explored. However, it is often said that there is no potential in Nepal and that everything is taken negatively. Moreover, Nepalis living abroad are also seen comparing and opposing Nepal when they see the development and technologies of foreign countries. I would like to tell you here. If we really invest and “There are many possibilities in Nepal if the hard work is done in Nepal,” he said.
He mentioned that the recent law reforms made by the Nepalese government have encouraged investors and are also creating an investment environment in the country.
“Recently, the Nepalese government has tried to pave the way for investment in the country by reforming more than two dozen laws. This has been done at the initiative of the private sector, especially the Federation of Nepalese Chambers of Commerce and Industry. Since I came to the leadership, we have been taking special initiatives to create an investment-friendly environment in the country and attract foreign investment. If, in addition to foreign investment, non-resident Nepalis and Nepalis employed abroad can also invest some of their share in various sectors of Nepal, the development we expect will be possible. “The development of the country is done by all of us together,” he said.
He urged non-resident Nepalis and Nepalis employed abroad to invest in the country and contribute to production, employment and revenue growth.
“You have done very well here. If you invest even a part of your capital in Nepal and help in production, employment and revenue growth there, then the pace of our development can definitely be accelerated. You will all definitely return to Nepal after some time. At that time, that investment can also support you. The returns from that will help make your lives easier,” he added.
He gave his own example of coming from Bagulang and now leading the umbrella organization of the private sector in Nepal and successfully providing direct employment to more than 25,000 people through various companies, and reiterated that there is a lot of potential in Nepal if people work with hard work, dedication and honesty.
He informed that a 10 billion rupee Nepal Development Company has been established to provide investment opportunities to Nepalis who are also employed abroad, and urged Nepalis who are employed abroad to invest in the company.
This company collects the scattered capital of Nepalis inside and outside the country and Informing that they are going to invest in hydropower, tourism, industry and various other potential sectors, Dhakal has urged Nepalis employed abroad in various countries and non-resident Nepalis to participate in it.
He expressed confidence that the recent legal reforms made by the Nepalese government would help create an investment environment in the country. He said that it is necessary to break both the narratives that the country has no potential and that development can only be achieved through foreign investment, and informed that the Nepal Development Company worth 10 billion rupees will be invested in the construction of large infrastructure projects through domestic capital.
“Both the narratives that say the country has no potential by comparing it to various developed countries and that foreign investment is necessary to develop large infrastructure projects are wrong. It is necessary to break these. It is possible to raise investment in large projects from our capital by collecting the small capital that we have scattered.
If we take 75 to 80 percent of the 10 billion rupees we have established as equity and take a loan, we can invest more than 40 billion. From which it is possible to raise investment in many large projects,” he said. The program was addressed by various speakers, including Minister for Health and Population Pradeep Poudel, Nepali Ambassador to the UAE Tej Bahadur Chhetri.
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