Nepal is intensifying efforts to safeguard investments, particularly those from India, amidst the backdrop of political fluctuations, according to statements from Ambassador Shankar Prasad Sharma. This initiative aims to establish a conducive environment for investors in Nepal, which has experienced numerous coalition changes since 2008, reflecting its evolving democratic landscape.
In an exclusive conversation with ThePrint, Ambassador Sharma disclosed the government’s proactive measures, including the formulation of agreements, contracts, and updated legislation to bolster investor protection. He emphasized the recent release of a model bilateral investment agreement by Nepal, underscoring its significance in ensuring policy stability and safeguarding investments.
Ambassador Sharma made these remarks during an industry outreach event organized by the Nepali embassy in collaboration with the Nepal Investment Summit and India’s PHD Chamber of Commerce and Industry. He highlighted ongoing efforts to finalize agreements beneficial to both Nepal and India, including a tripartite power export deal involving Bangladesh.
India stands as Nepal‘s foremost investor, constituting approximately one-third of total foreign investments, attributed to factors like geographical proximity and robust trade relations. Despite recent political developments, including coalition realignments, Sharma reassured investors of Nepal’s commitment to maintaining policy continuity and fostering a conducive investment climate.
Sushil Bhatta, CEO of the Investment Bank of Nepal, echoed Sharma’s sentiments, emphasizing Nepal’s openness to business and identifying key sectors such as agro-processing, tourism, green energy, and information technology as promising areas for Indian investment. Bhatta emphasized that the government’s policy priorities remain consistent, ensuring stability and continuity for prospective investors.
Bhatta further highlighted the sustained interest from India in Nepal’s investment opportunities, citing the government’s pragmatic approach in hosting such events. He affirmed that regardless of political transitions, Nepal’s commitment to its priorities, decisions, and agreements remains unwavering.
In conclusion, Nepal’s concerted efforts to protect investments and nurture a favorable investment climate, particularly for Indian stakeholders, underscore its commitment to economic growth and stability amidst evolving political dynamics. These initiatives aim to enhance bilateral relations and foster mutually beneficial partnerships between Nepal and India in various sectors of econhttps://uinewz.com/event-news/g20-empower-summit-2023-fostering-women-led-development-for-inclusive-global-economic-growth/omic development.