POKHARA: Madan KC did not see any prospect of return on his investment in Nepal while the country was reeling under conflict 10 years ago. He saw better business prospects abroad and headed to South Korea.
There he invested in export/import trade and also ran a restaurant which ensured him a good return. While his income graph started climbing up, political situation in Nepal started improving after the end of the conflict. This prompted KC to think about pouring his hard-earned money in Nepal.
KC is now building a hotel named Hotel Goodwill in Lakeside, Pokhara. He is investing Rs 250 million in the project. The hotel, which has 43 rooms, is expected to come into operation later this year. According to KC, the hotel will create 50 jobs. KC, who returned to Nepal after selling his business ventures in South Korea, has also made investments in a travel agency and a money changer in Pokhara.
Ramesh Karki has also similar story to share. Karki, who returned to Nepal after staying in Japan for 14 years, invested Rs 600 million to build Hotel Middle Path three years ago. Now the hotel’s value has tripled, according to Karki.
The hotel currently employs 24 people.
Karki has plans to open a spa in Kathmandu in the near future. It will create 20 jobs. “Had I invested the same amount in Japan, I would not have seen this level of progress there,” Karki said. “Government offices are becoming efficient and the law and order situation have also improved in Nepal.”
According to Karki, hard work and perseverance were what he learned in Japan. Now he is taking these two things as the basic premises to operate business here.
KC, who is also the treasurer of Non Nepali Resident Association (NRNA) Korea Chapter, said many Nepalis will start returning home if the government encourages them to make investment here and guarantees investment security. “I made trips to many countries, but did not find investment scope like in Nepal elsewhere,” he said.
Puspa Adhikari, who is building a resort at Rupakot in Kaski with investment of Rs 300 million, is also an overseas returnee. His resort, which employs 50 local youth, is starting operation from this Dashain festival (mid-September). “Once the resort starts full operation, another 50 will get job at the resort,” added Adhikari.
Amrit and Lakshin Gurung, who have returned from the UK and Japan, respectively, have invested in rainbow trout farming. They duo have opened Gandaki Rainbow Trout Fishery Farm in Sardikhola. Annual turnover of the farm is worth millions of rupees.
Some youth, who recently returned from South Korea, have invested in a pig farm in Kaski.
Most of the overseas returnees are putting their money in tourism and banking sector. Promoters of most of the local banks in Pokhara are overseas returnees.
According to Raj Kumar Gurung, CEO of Pokhara Finance, eight Nepalis living abroad are among the promoters of the finance company.
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