Ensure investment security
KATHMANDU:
Experts emphasised that in the absence of guarantee on security of the investment, Nepal can not take off from current depressing economic situation.
“Until the state can ensure the investors that their investment in Nepal will be secure and free from deliberate damages, the country could not see any prosperity,” said Dr Ram Sharan Mahat former finance minister in an interaction organised by Nepal Students Union of Purbanchal University on current economic issues here in the valley today. “In the presence of hostile investment environment, capital shifts to more conducive environment,” he said, adding, “when the foreign countries welcome the investors with red carpet, we are busy vandalising the few foreign investment projects.”
With the 1950s mentality Maoists are still engrossed with suspicious of foreign investment as the foreign country’s attempt on sabotaging Nepal’s sovereignty which is pulling Nepali economy down,” he said, adding that political culture that threatens the investment security is taking away economic freedom.
The former finance minister also blamed the policy maker’s fixation with political agendas as the reason for economic issues having pushed to backseat. “Over prioritisation on politics has gnawed on the economic scope of South Asian countries.”
Vice president of Federation of Nepalese Chambers of Commerce and Industry Pradip Jung Pandey also criticised government’s inability to create conducive investment environment.
“In India, many of the states even provide cash incentives to the industries recognising their role in economic growth but in Nepal industries have to go through many troubles that even Nepali industries have started to establish their plants in foreign soils,” he pointed out, advocating for the free and liberal economic policies as the best for industrial growth citing the example of economic prosperity observed by Nepal in the 1990s following the economic liberalisation.
Banker Anil Shah also seconded Pandey’s opinion that in the presence of economic freedom that a nation can prosper.
Source: THT
Experts emphasised that in the absence of guarantee on security of the investment, Nepal can not take off from current depressing economic situation.
“Until the state can ensure the investors that their investment in Nepal will be secure and free from deliberate damages, the country could not see any prosperity,” said Dr Ram Sharan Mahat former finance minister in an interaction organised by Nepal Students Union of Purbanchal University on current economic issues here in the valley today. “In the presence of hostile investment environment, capital shifts to more conducive environment,” he said, adding, “when the foreign countries welcome the investors with red carpet, we are busy vandalising the few foreign investment projects.”
With the 1950s mentality Maoists are still engrossed with suspicious of foreign investment as the foreign country’s attempt on sabotaging Nepal’s sovereignty which is pulling Nepali economy down,” he said, adding that political culture that threatens the investment security is taking away economic freedom.
The former finance minister also blamed the policy maker’s fixation with political agendas as the reason for economic issues having pushed to backseat. “Over prioritisation on politics has gnawed on the economic scope of South Asian countries.”
Vice president of Federation of Nepalese Chambers of Commerce and Industry Pradip Jung Pandey also criticised government’s inability to create conducive investment environment.
“In India, many of the states even provide cash incentives to the industries recognising their role in economic growth but in Nepal industries have to go through many troubles that even Nepali industries have started to establish their plants in foreign soils,” he pointed out, advocating for the free and liberal economic policies as the best for industrial growth citing the example of economic prosperity observed by Nepal in the 1990s following the economic liberalisation.
Banker Anil Shah also seconded Pandey’s opinion that in the presence of economic freedom that a nation can prosper.
Source: THT
