KATHMANDU: Prime Minister KP Oli has said Nepal is a virgin land for investors. Addressing the Vietnam-Nepal Business Forum at Hanoi, Prime Minister Oli said investment anywhere and everywhere is full of potentials with assured rate of return.
He reminded the Vietnamese investors that Nepal’s advantage lies in its rich natural resources, abundance of labour forces and the location between two largest markets India and China. The PM further said that there are opportunities for investment in multiple sectors as hydro power, agriculture, mineral resources, medicinal herbs, hospitality industry and financial markets in Nepal.
According to him, labour cost is low and competitive in Nepal. The country enjoys a demographic dividend, with 57 percent of working-age population. Every year over 500 thousand youths enter into job market. Similarly, large number of English speaking and digitally connected youths are Nepal’s important asset. This makes ICT sector another area for profitable investment.
He also said Nepal has created an investment-friendly environment through the enactment of necessary laws and announcement of a series of policy measures. Protection of foreign investment is guaranteed by law. The new Foreign Investment and Technology Transfer Act ensures national treatment to foreign investment.
Private sector as he said was taken on board as an indispensable partner for economic development. Public -Private Partnership and Investment Act had paved the way for synergetic engagement of both sides for investment. According to him, the success of competitive and economic development lies in innovation and knowledge. Nepal aspires to innovate at level of small and medium sized enterprises as well.
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