PM urges NRNs to bring big investments
KATHMANDU:
Prime Minister Sushil Koirala today urged the non-resident Nepali (NRN) community to bring in more big investments in diverse sectors. He said that with the nation heading towards peace and stability, there is now a need to focus on economic development that requires huge resources.
The call from Koirala has come at a time when Shesh Ghale, president of the NRN Association is investing in a five-star ‘Sheraton Kathmandu Hotel’ in the heart of the Capital. “Since Nepal is a virgin land in terms of investment opportunities, there is immense potential in tourism,” said PM Koirala, while addressing the NRN Day 2014 celebrations. He said that the government was ready to remove hurdles to create an investment-friendly climate.
NRNs living in 70 countries have gathered in Kathmandu to mark the day. Koirala also assured the gathering about introducing ‘special citizenship’ for NRNs and making the visa issuance process for them scientific and practical. Two weeks ago, the Constitutional-Political Dialogue and Consensus Committee had agreed to provide special citizenships to NRNs and include the provision in the new constitution.
In the programme, Baburam Bhattarai, senior leader of UCPN-Maoist said that to achieve double digit growth and graduate from least developed country (LDC), an annual investment of Rs 400 billion to Rs 500 billion is necessary. “Since this is not possible only with domestic resources, NRNs have to bring in more investment in sectors, including water resource, agriculture, infrastructure and tourism,” he added.
Nepal has been planning to graduate to a developed country by 2022 from the current status of LDC. So far, NRNs have made investments in sectors such as education, health, communication, hydropower, and banks and financial institutions. Ghale said that they are hopeful that the government will do the needful to make it easy to invest in Nepal as committed by PM Koirala. “We are also pleased to hear about the confirmation of citizenship to NRNs,” he said.
NRNs have for a long time been demanding Nepali citizenship, which will also make it easy for them to invest here. Pradeep
Jung Pandey, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) also urged NRNs to bring in more investments as there is a need for investments worth billions for economic development and graduation to a developed nation by 2022. “Many laws including the Industrial Enterprise Act, Labour Act, Special Economic Zone Act and Anti-dumping Act are in the pipeline and we are also ready to help solve any problem in investment,” he added.
Meanwhile, earlier in the day, PM Koirala laid a foundation stone of Sheraton Kathmandu Hotel, which is being built with
an investment of Rs eight billion. The prime minister praised the efforts of Ghale and said that the investment will be an inspiration to others to invest in Nepal.
Ram Pratap Thapa, chief patron of NRNs said that the investment made in the hotel is just an example. “Many other NRNs are showing interest to make big investments in the country,” he said.
On the occasion of the NRN Day, NRNA also provided financial support for the education of disabled children and to the families of Sherpas killed in the avalanche at Mount Everest.
Source: THT
