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Oli invites Indian investors, ensures safety and profit

Gorkha Post

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NEW DELHI — Prime Minister KP Sharma Oli has sought investments from Indian businesses saying Nepal was committed to bring visible changes in the country by fostering bilateral economic engagements with India with investor-friendly environment and incentives for industries.

Oli expressed so during his address to businesspersons at a program organized by Federation of Indian Chamber of Commerce and Industries in New Delhi.

Attending the first official programme upon arrival at the administrative capital of India, Prime Minister KP Sharma Oli, at an interaction with representatives of Indian business community, PM Oli shared that with a successful political changes, the country was looking into economic transformation to ensure a ‘Prosperous Nepal and Happy Nepalis’.

“I would like to take this opportunity to invite our friends to Nepal and assess the changed business environment. We want to work jointly with our Indian friends on our way to prosperity. We aspire to stand as a developing country and graduate from our LDC status at the earliest. Our motto is Prosperous Nepal, Happy Nepal.”

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At the India-Nepal Business Forum, the Prime Minister briefly spoke on the need for business community to get a clear picture on the current changed situation of trade and commerce in Nepal and further made a request to change their perception on investing in the Nepali market.

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 has improved and this means Nepal is safe for foreign investment, he said, adding that the country need massive investments in every sector.

The prime minister said investment in any sector is highly profitable in Nepal and it also provides huge market for investors.”Investors always looks 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 assure you of a promising market of 2.5 billion people,” he said.

Saying that Nepal enjoys duty-free access to European markets Oli said, “We are ready to listen to you. Your advises and suggestions. You have invested across the globe, so why not to 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.”

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Talking about policies, he said the country has enacted laws and reforms for foreign investments and they are committed to provide a liberal economy and polices.

“We have favourable fiscal environment. We have low tax slabs, no income tax on dividends and export earnings and tax holidays for certain industries,” he added.

He also stated that foreign companies register in Nepal can purchase, own and sell land and there is no discrimination between nationl and foreign investors.

Talking about sectors that holds opportunities, he said power, manufacturing, IT, agro based industries and tourism are the areas where investments can be profitable.

“All sectors open for investment. We are eager to work together with business community of India. I would request you to come to Nepal and invest,” he added.

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Nepal, China to establish mechanism on Chinese-aid projects; expedite feasibility study and DPR on rail link

Gorkha Post

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KATHMANDU — Nepal and China have agreed on establishing mechanism on Chinese aid projects in Nepal for the implementation of various key agreements including a cross-country railway link which were reached with China during K P Sharma Oli’s previous stint as prime minister.

At a bilateral meeting held in Beijing on Wednesday, Minister for Foreign Affairs Pradeep Kumar Gyawali held discussions with his Chinese counterpart Wang Yi about the early conduct of a feasibility study and preparation of the Detailed Project Report (DPR) for the Nepal-China Cross Border Railway line.

Minister Gyawali, addressing a joint press conference held after the bilateral meeting, said they held a comprehensive review of the progress made in implementing various other agreements reached during recent high-level visits including the visit of Prime Minister Oli to China in March 2016.

During the meeting held at Diaoyutai State Guesthouse, the duo discussed bilateral relations and among other issues of mutual cooperation between Nepal-China.

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Foreign Minister Gyawali said they exchanged views on the draft protocol for the transit and transport agreement and agreed to step up negotiations for its early finalization.

The two foreign ministers also held discussions about implementation of the Memorandum of Cooperation (MoU) under the Belt and Road Initiative.

“Nepal has expectations that the Initiative should contribute to the development of physical infrastructure, enhancing of cross-border connectivity including by rail and road, promotion of trade, tourism and investment, and people to people relations,” Gyawali further said.

On the occasion, Chinese Foreign Minister and State Councilor Wang said China-Nepal-India, the three neighbouring countries, are natural allies connected by rivers and mountains.

Wang further said they agreed to continue deepening mutually beneficial cooperation between China and Nepal. “China will give full support and China will continue to encourage Chinese businesses to invest in Nepal in light of need on the ground to contribute to local development,” Wang said.

Saying that China and India are the neighbours of Nepal, the Chinese Minister said the two countries should support Nepal in its development works.

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Talking about Nepal’s vision of multidimensional cross-Himalaya connectivity network, Wang said as China-Nepal have signed BRI cooperation, the connectivity network falls under the part of BRI cooperation. He said BRI further covers links to ports, railways, highways, aviation, electricity and communications.

Moreover, Wang said Nepal could take advantage from cooperation and development of China and India.

On the occasion, Gyawali thanked Chinese Foreign Minister Wang for China’s support for reconstruction projects including the Araniko Highway Repair Project and cross-border bridges at Tatopani and Rasuwagadhi.

Earlier, Minister Gyawali has called on Vice-President of China, Wang Qishan at Zhongnanhai on Wednesday morning.

A press release issued by Nepali Embassy in Beijing mentioned that Foreign Minister Gyawali conveyed the greetings and best wishes of Prime Minister KP Sharma Oli and said that Nepal appreciates President Xi Jinping’s vision of ‘building a community of shared future for humanity,’ and supports China’s thrust on enhancing cooperation among nations under the Belt and Road Initiative.

Highlighting the fact that Nepal and China have been enjoying excellent relations based on friendship and good neighborliness since ancient times, Vice-President Qishan stressed on fully tapping the potentials of bilateral relations between the two countries.

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