Prime Minister KP Sharma Oli on rolled out the red carpet to all aspirant investors saying that Nepal has an immense possibility for investment and that it can offer both secure opportunities and profit.
While delivering the inaugural speech at the Kantipur Conclave, the Kantipur Media Group’s flagship global event, Oli said that business opportunities in Nepal are backed by unique strategic and locational advantages, with two of the world’s largest markets and fastest growing economies being close to it.
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The prime minister also hailed “Kantipur Conclave: Unleashing Nepal’s Potential” as timely and relevant as Nepal is set to host the Investment Summit 2019 in March-end.
“I am confident that this Conclave will provide a useful platform to share innovative ideas and views on harnessing Nepal’s development potential,” he said.
With just a month to go for the second international investment summit, there have been concerns from the donors and development partners who are still wary of the investment climate in Nepal, largely due to corruption, lack of reform measures and failure to cut the cumbersome red tape.
“The government has put in place a robust regulatory framework and promulgated enabling policies in a range of specific sectors of the economy,” he said. “We are actively pursuing administrative reforms and strengthening of institutions. A one-stop-centre for services will be provided to the investors.”
The Oli administration came to office last year after the first elections held under Nepal’s new constitution and it is the strongest one the country has ever seen in the past two-and-a-half decades.
His government has put prosperity high on its agenda. It, however, has faced criticism for not taking the private sector into confidence and for failing to do the desired work to woo foreign investors.
Oli, however, tried to dispel concerns. “There should not be any confusion about our future course of development. Our vision is clear, our commitment is steadfast and our action is result-oriented,” he said. “If you have been waiting for the most appropriate time for investing in Nepal, now is the time. After a protracted phase of political transition, Nepal today enjoys a peaceful, democratic and stable political order,” said Oli. He claimed that business-friendly policies and laws have either already been enacted or are in the process of finalisation.
Various government agencies are working to finalise some of the new laws and amending some existing laws and policies ahead of the summit. Some new laws have already been sent to the Cabinet for its nod ahead of the investment summit to create a positive investment scenario.
Oli also made some distinct promises at the Conclave saying that the government would allow
