Government committed to protecting authorised investment: Finance minister

KATHMANDU: Finance Minister Dr Swarnim Wagle said the government's primary duty is to protect authorised investment, assets and income earned through legitimate means.

Speaking at the Ministry of Finance (MoF) during talks with representatives from 20 large taxpayers, mostly multinational companies, Dr Wagle said the state stands with investors and urged them to expand investment, introduce new products and bring new technologies to Nepal.

“We strongly believe that we have to build a ground in which investors feel secure that their assets are safe, the rules are stable, the tax system is predictable, and the state stands as their partner,” he said, adding that without that trust large investment will not come and industries will not expand. “Only if that trust is built will economic transformation be possible.”

Dr Wagle said the meeting was more than an official sitting and offered an opportunity to deepen trust, collaboration and commitments between the government and the private sector, which he said contributes significantly to nation-building. He pledged to set up a response desk at the Ministry of Finance to address concerns raised by the investment community.

“We wish to create an atmosphere in which society could feel pride in the success of industrialists, investors could feel secure, taxpayers could feel respected, and youth entrepreneurship could be motivated,” he said.

He added that the government is on a mission to make Nepal an investment-friendly, business-friendly and production-oriented economy.

Representatives from Surya Nepal, Ncell Axiata, Aarti Strips, Gorkha Brewery, Himalaya Airlines, Hongshi Shivam Cement, Doosan Enerbility Co, Dabur Nepal, Bottlers Nepal (Terai), Unilever Nepal, Asian Paints (Nepal), Power Construction Corporation of China, Gorkha Lahari, Huaxin Cement Narayani, New Hope Agro Business Nepal, Nepal Wellhope Agri-Tech, Varun Beverages Nepal, Turkish Airlines, Bhotekoshi Power Company and Berger Jenson & Nicholson (Nepal) attended the discussions.