'More FDI needed in country'
Kathmandu, Jan 22: Stakeholders have pointed out that Nepal still has to develop the welcoming culture for investors and investment since the foreign direct investment (FDI) was inevitable to fill the infrastructure gaps in Nepal.
At a programme organized by US Education Foundation Nepal on potential and challenges for investment environment in Nepal, the speakers argued that Nepal has failed to pay attention about the investors' will.
They also pointed out that legal and administrative hassles, profit assurance, guarantee of returns, availability of feasible projects for FDI, access to market for goods and services, and others were the key challenges for bringing in FDI in Nepal.
On the occasion, Chief Executive Officer (CEO) of Investment Board of Nepal Sushil Bhatta said that we don’t have projects to showcase for the investors adding that facilitation on the part of Nepal to create enabling environment for investment is still insufficient. "We have challenges in the prefeasibility study of the projects. The consulting firms are not efficient," he regretted.
Bhatta stated that preparations are ongoing to sign some major projects in the upcoming Third International Investment Conference to be held on April 21 and 22 in Kathmandu. "Investment Summit is a journey not a destination. Investment does not mean only in the infrastructure sector. There is immense potential for investment in service sector, high value manufacturing industries, IT sector," Bhatta said.
Former CEO of IBN Radhes Pant called for responsibility and accountability to bring in more FDI.
Likewise, Joint Secretary at the Ministry of Industry, Commerce and Supplies Baburam Gautam said the private sector also should play role to create positive environment for welcoming FDI in Nepal.
