Kathmandu, Feb 2: President Ramchandra Paudel has called on the Japanese business community to explore investment opportunities in Nepal. He reminded that the Government of Nepal is committed to providing all possible supports to Japanese investors, according to the President’s Secretariat.
The President made the remarks while addressing an interactive programme with the Japanese business community in Tokyo today. The event was held on the occasion of the 70th anniversary of the establishment of diplomatic relations between Nepal and Japan. On the occasion, President Paudel expressed Nepal’s desire to build a close partnership with Japan’s private sector.
“We have created an overall economic environment that offers lucrative returns to investment along with easy procedures for repatriation of profits and capital. The Government of Nepal is committed to providing full support to foreign investment, facilitating it without conditions, and ensuring the security of investments,” the Head of State underlined. President Paudel is currently on an official visit to Japan that began on February 1.
As Nepal and Japan celebrate 70 years of diplomatic relations, the President said the moment is appropriate to begin deeper cooperation in the areas of mutual benefit. He added that Nepal and Japan share cultural ties dating back to ancient times and expressed appreciation for the philosophy of Gautam Buddha. Quoting Buddha, he said, “The victory of peace is one in which nobody loses.”
The President urged Japan again to invest in Nepal with confidence by exploring potential opportunities in agriculture, water resources, and tourism, thereby contributing to Nepal’s prosperity while ensuring benefits to the investors themselves.
“Japan’s investment in Nepal will serve two purposes: securing economic benefits and contributing to service and religious values at the same time,” he commented. According to the President, Nepal–Japan relations, founded on goodwill, friendship and cooperation represent the exemplary bilateral relations.
He said the encouraging participation of the business community in such programme would be fruitful in establishing robust trade and investment ties between the two countries.
Calling the 70th anniversary historic, the President said that bilateral relations are deepening at the people-to-people level beyond official engagements. He also praised Japan’s long-standing support to Nepal, describing Japan as a reliable development partner in Nepal’s socio-economic endeavours.
President Paudel shared that Nepal’s efforts are focused on social justice, good governance and people’s prosperity along with political stability. Nepal would be upgraded from the least developed country by the end of this year and its graduation to a status of middle-income country by 2030 would be another important achievement for Nepal, he argued.
He opined, “A huge resources is need for such campaign. Nepal has focused its attention on attracting maximum foreign investment in the areas of national priority, increasing Nepal’s trade, diversifying inter-affiliation, promoting tourism and acquiring advanced technology.”
The Head of the State expressed the belief that no country would be prosperous without working together by government and private sector internally and partnership with other countries at present.
Nepal has opened almost every sector for foreign investment including manufacture, hydropower, tourism, service, information technology, mines and industry based on agriculture, to make trade smooth and to promote innovation by making legal, procedural and institutional reforms following the liberal economic policies, he made aware the business community.
The President mentioned, “Investment Board Nepal provide a one-door service to big investors. The International Monetary Fund, World Bank and major international credit rating agencies through independent assessments have confirmed that Nepal offers one of the most favourable business environments in South Asia.”
In his belief, Nepal’s location in between two rising economic giants India and China could offer a huge advantages to the potential investors.
On the occasion, Charge d’ Affaires of Nepal to Japan, Harihar Kant Poudel, welcomed President Paudel where Secretary at the Foreign Ministry, Amrit Bahadur Rai, and Joint-Secretary Bhrigu Dhungana made presentations on the potentials of investment in Nepal.
Likewise, some of the members of Japanese Business Community shared that they were happy after getting to know that there are many opportunities for the investment in Nepal, expressing the view that it would contribute to open doors for investment.
