Invest in Nepal, Oli tells Indian industries

Prime Minister of Nepal K.P. Sharma Oli on Friday sought investments from Indian businesses saying his country offered investor-friendly environment and incentives for industries.

He said areas such as infrastructure, tourism, power, agriculture and IT hold huge opportunities for investors.

“Nepal has a strong government at the centre, and stable government gives stability and continuity in policy regime,” he said here at the India-Nepal Business Forum meet organised by industry chambers, including CII.

Law and order situation had improved and this meant Nepal was safe for foreign investments, he said, adding that the country needed massive investments in every sector.

“Indian investors have invested across the globe, so why not go to the next door Nepal. Geographical proximity, easy access and cultural similarities are all there to make you feel good about Nepal. Seize the opportunity,” Mr. Oli said.

“Investors always look for market. Look at Nepal’s position. For us, market is not a problem, [but] production is a problem. It is lying between two vibrant economic powers with huge population of the world — India and China. That assures you of a promising market of 2.5 billion people,” he said.

Attractive incentives

He said Nepal enjoyed duty-free access to European markets. “We are ready to listen to you. Your advises and suggestions. We want to know your views. We are committed to further improving our business climate,” he said.

“Nepal has to offer attractive incentives compared to other countries. We have reduced tariffs, simplified tax regimes,” he said.

The country was planning to establish special economic zones (SEZ) in the cities bordering India with incentives for industries, including liberal labour laws, Mr. Oli said.