Finance Minister Dr. Swarnim Wagle has requested non-resident Nepalis to invest in Nepal without any fear, highlighting the government’s efforts to improve investment policies.
Finance Minister Dr. Swarnim Wagle has urged Nepali people living abroad to confidently invest in Nepal. While addressing the 11th Asia Pacific Conference of the Non-Resident Nepali Association (NRNA) in Guangzhou, China, via a video message, he said the government is working on policy reforms to build a good investment environment.
Government Focuses on Policy Reforms
The minister explained that the government is implementing strategies to make a better investment climate, generate jobs within the country, and encourage work in artificial intelligence and information technology fields. He invited NRNs to join in this journey of development.
“Dear diaspora friends, please come and invest in Nepal without any worry. You can invest in tourism, IT sector, green energy, high-value farming, and fields that help to replace imports,” he said during his speech.
Legal Changes for Friendly Environment
Finance Minister Wagle mentioned that the government is working to bringing 27 new legal acts through the budget to make the environment investment-friendly. He said that creating decent employment is a big priority of the government. They have also improved the tax system to raise government income.
“In the first year, we started the reforms. In the second year, broader reform works will go forward. The results of these reforms will be seen in the third and fourth years, and in the fourth and fifth years, public will get the real benefits,” the minister added.
Diaspora Capital and Skills Needed
According to the minister, internal resources are highly important to meet the goals of economic reform and development. He said that external investment sources are currently in a difficult state, which makes the capital, knowledge, and skills of non-resident Nepalis even more necessary for the country.
He also shared that bringing diaspora capital and investment into Nepal was already included in their political party’s election manifesto. “In election manifesto, we spoke about using soft power. Now the government is active to bring diaspora investment and knowledge. Just a few days ago, we amended the Securities Allocation and Issuance Guidelines to make the share portion of Nepal Government and NRN Investment Fund to 85 percent,” he said, welcoming them to use their skills here.
Finally, the minister mentioned that the government is trying to restart sick industries. He invited non-resident Nepalis who have the needed skills and knowledge to participate in this initiative.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
