Nepali industrialists move abroad seeking better environment for investment

Nepali industrialists, who have been facing several problems in production due to the political turmoil back home, have started moving investments abroad in search of better environment for investment.

Three ready made garment producers have recently opened ready made textiles industries in Vietnam.

Prashan Pokhrel, chairman of Nepal Garment Industry Association said the industrialists had to open textiles in Vietnam as there was no environment to run industries in Nepal.

According to Pokhrel, Sunil Tamrakar, Kiran Tempkar, and Jalauddin have established garment industry in Vietnam.

Vietnam is considered a growing economic hub in the South-east Asia.

Nepali garment industry, which was once a major foreign currency earner for Nepal, has faced the brunt of political turmoil in the recent years. Many garment factories have already shut down due to abolition of quota system by the USA, frequent strikes by trade unions and other strikes. nepalnews.com May 31 09