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While addressing the Annual General Meeting of the Nepal-Britain Chamber of Commerce and Industry (NBCCI) on Thursday in the capital, the British envoy also spoke about the global economic crisis and the effect it has on the poor business environment in Nepal.
"It is clear that there are still many unresolved issues which are holding Nepal back from reaching its full potential," said the Ambassador adding," Political instability was not good for business, especially in terms of the frequent changes in economic policy."
Terming Nepal "a land of opportunity" with great human resources, natural beauty and rich neighbours, he also wished every success to the Visit Nepal 2011 programme.
"Public security remains a significant concern. You can't do business under the shadow of a gun. The police needs to be given confidence that they can enforce the law, regardless of political considerations," he further commented.
The Ambassador went on to note that widespread corruption raised the cost of doing business in Nepal, and that poor infrastructure was an obstacle to getting business moving.
"Without tackling these issues, Nepal would see few international investors willing to take the risks of investing their money in the country, the envoy cautioned.
The NBCCI was established in 1995 as an association of Nepalese industries and businessmen having industrial or economical dealings with the UK.
It promotes the development and expansion of the industrial and commercial sector of Nepal and promotes joint venture investments and economic relations between the two countries. The British Ambassador is patron of the NBCCI. nepalnews.com
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