‘Foreign investment inevitable for Nepal’s development’

KATHMANDU: Nepali Congress (NC) leader and HoR member Arzu Rana Deuba has said foreign investment is inevitable for Nepal's development. At a programme organised by the Embassy of Nepal in Tokyo, JICA, JETRO and UNIDO in Tokyo on Thursday, Rana said that foreign investment is not only a complement to domestic investment that bridges gaps between investment and savings but also is a solution to the gap in foreign exchange reserves. She opined that India, China and other emerging economies show that FDI can also serve as catalysts for the growth of local small and medium enterprises. “It is also a source of new technologies. It can lead to knowledge transfer and skills development. Foreign direct investment (FDI) inflows provide employment opportunities for the citizens of the recipient country- opportunities that will not otherwise be available," Rana shared. She also asked the investors to make investments in Nepal and take return adding that the average return on equity was about 15% last year. Addressing the investors, she said Nepal has enacted Foreign Investment and Technology Transfer Act to facilitate FDI and protect the interest of investors. “Our legal system prohibits nationalisation of private enterprises.” “From social perspectives, socio-cultural organisations such as clubs, community and non-governmental organisations can benefit from the robust corporate social responsibility (CSR) programmes of multinational enterprises," according to the NC leader. By RSS READ ALSO:

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