Experts emphasize on conducive environment for FDI

Date: 05 Apr 2019
Location: Pavilion Hall
Address: Kathmandu

KATHMANDU: The Institute for Strategic and Socio-Economic Research (ISSR), Pavilion Group, and Khabarhub jointly organized an interaction program on ‘Post-Investment Summit Nepal-2019’ at the Durbar Marga-based Pavilion Hall on Friday.

Speaking at the interaction, former Minister for Finance, Dr. Ram Saran Mahat said the government organized the Summit in haste.

‘It would have been better had the government carried out ample homework for the Summit,” he said. Former Minister Dr. Mahat said the government should have first focused on creating a conducive environment for the summit rather than hurriedly organizing it,’ he lamented.

He stressed that the government should have prioritized the manufacturing sector rather than infrastructure.

Mahat remarked that instances of violence and blasts will not impart a positive message to potential investors.

Likewise, former Governor Tilak Rawal questioned how Nepal could bring foreign direct investment ‘as external environment and internal commitment was not favorable for investment’.

He was of the opinion that it was very difficult to attract foreign investment in Nepal as Nepalis have weak spending capacity, and finding markets in neighboring India has been a tedious task. “Exporting goods manufactured in Nepal is very hard to export to India and China,” Rawal said.

Also speaking former CEO of Nepal Investment Board, Radhesh Pant said it is high time that the government and private sector worked together to attract more foreign investment in Nepal.

Pant said it was positive that investment laws were formulated ahead of the much-talked summit while casting doubt over the effectiveness of service delivery.

Likewise, former Vice-Chairman of National Planning Commission Prithvi Raj Legal said that the Nepal Investment Summit was successful, and praised the government for ‘seriousness’ in bringing FDI.

Former Nepali Congress lawmaker Ram Hari Khatiwada raised skepticism over the possibility of investment here saying that the government should ensure that negative messages should not go to the international community.

Saying that political stability alone would not play a positive role for development, he stressed on a political commitment for attracting foreign investment.

Also speaking on the occasion, former Governor Deependra Chhetri expressed the optimism of bringing in foreign investment saying that there has been a conducive environment for the same.