Speaking at the Nepal Business Conclave here on Monday, he also requested the potential investors to check the return of the companies with foreign investment in Nepal. “Nepal is becoming an attractive destination for foreign investors,” Khatiwada said, adding, “Nepal is good in doing business environment in terms of cost competitiveness because of low labor cost and better return.”
Manufacturing companies like Dabur Nepal and Unilever as well as telecom operators, banks and insurance companies are making good profit.
“Doors are open for investors from across the world to invest in agriculture, tourism, infrastructure, manufacturing, hydropower, service, mines and minerals sectors,” he added. “Nepal is strategically located and can be developed as a transit between India and China.”
Khatiwada also argued that Nepali banks and financial institutions can provide supplementary capital to foreign investors. “Foreign Direct Investment (FDI) may not always be sufficient. Investors might need local funding. Our financial institutions are able to fulfill that,” he said.
The central bank governor promised all possible support of Nepal Rastra Bank to potential investors. “NRB will give adequate foreign exchange facility to the investors,” he said, adding, “We are working to ease the dividend repatriation process for foreign investors.”
NRB has sufficient foreign exchange reserves which is enough to cover commodity imports for almost a year.
Meanwhile, Khatiwada also asked labor-receiving countries to invest on institutions for training manpower. “If migrant workers are trained, they will perform better and increase productivity of the receiving countries,” he added.
The governor also underlined the need to have synergy between infrastructure projects and the service industry which is growing at a fast pace.
Source:- Republica
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