German envoy for lowering FDI threshold

KATHMANDU, May 13 :

German Ambassador to Nepal Frank Meyke has said he was for foreign investment policy with low threshold for foreign investments.

Addressing the 20th and 21st Annual General Meeting of Nepal German Chamber of Commerce and Industry (NGCCI) on Monday, Meyke stressed the need to introduce one window service policy for attractive, employment-friendly small investment projects. He also said they were advocating for regulations which promote private development initiatives and joint development projects of German and Nepali NGOs.

According to Meyke, the whole European Union and many other international development partners are also advocating regulations that encourage foreign direct investment.

The ambassadors´ statement comes at a time when the Ministry of Industry (MoI) is conducting policy discussions on Foreign Investment Policy that has set threshold of US$ 2 million for foreign investment in agriculture sector, $10 million for infrastructure projects and a minimum of 30 MW project in the hydropower sector.

Source: Republica