Mahat seeks additional US assistance

KATHMANDU, Oct 30:

Finance Minister Ram Sharan Mahat has requested US Ambassador Peter J Bodde to convey a message to US investors that Nepal has environment conducive for foreign investment.

Saying that there is huge opportunity in Nepal´s hydropower sector as the country has already signed Power Trading Agreement (PTA) with India, Mahat said US investors can put their money in Nepali hydropower sector without any fear. "We are also making amendments to more than three dozen lows to further improve country´s investment climate," he added.

Mahat also said Nepal´s position in Doing Business ranking in South Asia and other international reports also suggests that country´s investment environment is improving.

Along with the regular support, the finance minister also requested Bodde to extend support to Nepal through the Millennium Challenge Corporation (MCC).

MCC is an independent aid agency funded by the US government.

Mahat also assured Bodde that Nepali will be a safer destination for foreign investors after a new constitution is issued within February next year.
Responding to Mahat, Bodde said he said he is excited with the government´s commitment to write new constitution in time. "It is positive that political and economic developments are taking place in Nepal. The electricity trade agreement and project development agreement has spread a good message to other countries,” Bodde said, adding that he will talk to the US government to help Nepal through MCC.

Source: Republica