Chaudhary for bringing Indian, Chinese investment

KATHMANDU:

Nepal´s first billionnaire listed in Forbes´ rich list has said Nepal could bring in Indian and Chinese investment for reviving economic growth by restoring favorable business climate.

In an interview published in ´The Independent´ newspaper of the United Kingdom on Wednesday, Binod Chaudhary, the president of Chaudhary Group (CG), said Nepal needs to completely revive investment climate to make it an investment destination by taking advantage of many opportunities in the country.

Despite hosts of obstacles in restoring investment environment in the country, Chaudhary, who has already invested in hotel, manufacturing, service and hydropower sectors, said there was no alternative to investing in the economy.

"There are many opportunities in Nepal. We are the birthplace of Buddha. We should be having visitors from Japan, Korea..... All these opportunities require a resolute, determined leadership. You cannot run away from making decisions. The anti-India sentiment that existed will have to end. You will have to cut deals with India and China. The time of playing one off against the other has to end," Chaudhary said.

Commenting on the recent revelations about the plight of Nepali migrants hired for the construction of various projects for 2022 FIFA World Cup football in Qatar, he said such ´horror´ would not be happening if Nepal could provide a sufficient livelihood for its people at home.

Reports suggested that at least 70 Nepalis had died in the construction site since the beginning of 2012.
"I am not only angry but embarrassed. There can be no greater embarrassment than being the billionaire of the poorest country," he added.

He also told to the British newspaper that the recently held Constituent Assembly election had delivered country´s politicians a mandate to focus on growth.
"I´m 100 percent optimistic. The parties understand that the time has come to act and that you cannot take people for granted anymore."

Source: Republica