May 24: Nepal Chamber of Commerce (NCC) has requested Malaysia to establish an industrial village in Nepal. The chamber made such a request under the concept of integrated investment in tourism, information technology and manufacturing during a meeting with the Charge d'Affaires of Malaysia to Nepal, Mohd Fadzle Abu Hassan, at Jamal-based building of the NCC in Kathmandu on Monday.
NCC Chairman Rajendra Malla said that they will take initiative for Malaysia's investment in Nepal.
Chairman Malla said, “There has been a high level of cooperation between Nepal and Malaysia in the field of labor. Malaysia has also become an excellent destination for Nepal in terms of remittance inflow. About 400,000 Nepali youth are employed in Malaysia. We urge the Malaysian government to invest in various other sectors of Nepal and also urge for labor cooperation.”
He said that there should be a high level cooperation between the government bodies for enhancing the Nepal-Malaysia investment relations.
On the occasion, he mentioned that Malaysia could invest in sectors like tourism, hydropower, information technology and handicraft of Nepal.
Malaysia's Charge d'Affaires to Nepal Hassan expressed his concerns saying that although they were ready for the investment, the law regarding assurance of return is not clear.
“Lately, Malaysia has been increasing its investment in information technology in South Asian countries. We have no problem investing in Nepal. However, we are still unable to clarify the policy provisions regarding the returns,” said Hassan.
Stating that Malaysia currently provides employment to millions of Nepali youth, he said that this number may increase in the coming days. He said that Malaysia is ready to invest in Nepal in various fields including hydropower and tourism.