Finance Minister urges UK delegation to invest in Nepal

KATHMANDU, June 2 : Minister for Finance Dr Ram Sharan Mahat has urged the investors from the United Kingdom to invest in Nepal.

 In a meeting with UK business delegation led by Minister of State Hugo Swire, Mahat said the government was working to improve investment climate in the country. “Foreign investors in Nepal can enjoy duty free and quota free market for third country exports," Mahat said, adding that the government was committed to restore investment friendly climate in the country.

 He also told the delegation that the government was drafting investment-friendly laws as part of second-tier of reforms to bring more foreign investment into the country. Speaking at the meeting, Swire stressed the need to create investment friendly climate and formulate investment friendly industrial laws.

He also suggested to the finance ministry not to put threshold on foreign investment in the Foreign Investment and Technology Transfer Act which the government is preparing to amend. British ambassador to Nepal Andrew Sparkes was also present on the occasion.

Source: Republica