British Embassy Pledges to Help Increase FDI in Nepal

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British Embassy Pledges to Help Increase FDI in Nepal

CNI delegation with British Ambassador to Nepal Nicola Politt in this recent photo. Photo Courtesy: CNI

September 17: Stating that Nepal has a favorable environment for investment, the British Embassy in Nepal said that it would play a constructive role in helping increase foreign direct investments in Nepal.

Issuing a statement after a meeting with office bearers of the Confederation of Nepalese Industries (CNI) on Wednesday (September 15), British Ambassador to Nepal, Nicola Kathryn Pollitt said that she would take initiative to attract British investors to Nepal by helping improve the business environment. "Foreign direct investment can play an important role in Nepal's development,” the statement quoted Pollitt as saying.

Ambassador Pollitt highlighted the fact that challenging days are ahead from the perspective of climate change. She also mentioned that the private sector can work to mitigate the effects of climate change. "The private sector can work to promote green energy," said Ambassador Pollitt.

Stating that COVID-19 has had a negative impact on public life and industry, Pollitt proclaimed that the UK has provided significant support to Nepal in the areas of humanitarian assistance and development. During the meeting, CNI President Vishnu Kumar Agrawal said, on the one hand, unemployment is a serious problem in Nepal, while on the other hand, there is lack of skilled manpower. He noted that the UK's support programs and conferences could help in skill development.

In the current situation where the contribution of industrial sector to Nepal's GDP is quite small, the CNI has launched the Make in Nepal-Indigenous Campaign, said President Agarwal. He mentioned that the campaign has been taken forward with the main goal of industrial development, export promotion, job creation and increase in consumption of goods produced in Nepal. Stating that the CNI is in constant dialogue with the government for the promotion of start-ups, he stressed on the need to bring small businesses into the mainstream of economy.

During the meeting, the immediate past president of the confederation Satish Kumar More said that there is good potential for investment in Nepal.

Similarly, Vice President of the Confederation Raj Bahadur Shah said that the embassy could help in the promotion of tourism in Nepal. He further said that the CNI would work in a planned manner for the development and promotion of Nepal's tourism industry.

Director General of the Confederation Yadav Prasad Poudyal and Director Sabin Mishra were also present at the meeting held at the British Embassy in Kathmandu on Wednesday.

 

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