Nepal PM Bhattarai Urges Indian Business Community to Invest in Nepal

NEW DELHI (NNN-NEPALNEWS) -- Prime Minister Baburam Bhattarai has urged the Indian business community to make investment in Nepal's potential sectors while he assured them of necessary security.

Speaking at the joint business meet of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Federation of Indian Chambers of Commerce and Industry (FICCI) representatives on Friday in New Delhi, PM Bhattarai said Nepal government has given top priority to providing security to businesses with Indian investment.

Bhattarai also mentioned that the Nepal government is also preparing to mark 2012/13 as "investment year" to attract and promote foreign investment in Nepal.

The government is also in the process to introduce Board of Investment under the chairmanship of Prime Minister to ease and execute the process of investment in the potential sectors, informed Bhattarai.

Highlighting that Nepal's security situation has improved significantly and is improving further and the PM said the improved situation has also reduced the business costs.

Similarly, FNCCI president Suraj Vaidya also urged Indian investors to look for the Nepal's potential sector for investment like hydropower, fast-tract road, railways, tourism, education, herbs, and infrastructure, among others.

As India is the largest and major market of Nepal, Vaidya also called for both the governments to establish favourable economic relationship.

Lawmaker and industrialist Binod Chaudhary said that with the political change Nepal has emerged as a significant market with high investment potential.

Highlighting global heritages, trekking-routes, high capacity of hydro projects in Nepal, Chaudhary also invited Indian investors to identify those potentials for investment.

FICCI executive committee member Devin Narang said that tourism and hydropower are the most potential sectors in Nepal which could be beneficial to both the nations.

Saying that Nepal should attract Indian investment to reduce its trade deficit, Narang also urged the Nepal government to solve the issues related to industrial security, power crisis, labour unrest among others.

Similarly, past president of Confederation of Indian Industry (CII) Rajiv Kaul also urged investment friendly environment highlighting hydropower, health, education and tourism as potential sectors. -- NNN-NEPALNEWS