In a move encouraging India-Nepal business cooperation, Nepal Finance Minister Yubaraj Khatiwada urged Indian businessmen to invest in Nepal.
Khatiwada said this at the ‘Nepal-India Franchise Investment Expo and Conclave’ held in Kathmandu on May 15, 2019.
Commending Nepal as a suitable investment destination, the Minister told Indian industrialists that the Oli Government has created a conducive and secure environment for higher profitability through necessary policy reforms.
“Nepal is at present on the course toward economic prosperity by welcoming foreign technology and investment. We have made sweeping reforms in the legal framework. The one-stop service center has also been brought into operation. The law related to foreign investment and technology transfer too has been implemented,” Finance Minister said in a statement.
He said the government is also welcoming foreign investment and technology to drive the Nepali economy further.
Khatiwada added that the country’s ‘Visit Nepal Year 2020’ campaign, to drive 2 million tourists, provides a better opportunity for expanding investment in service industries.
Stating that Nepal tourism already has good private sector investment, he urged private investors to invest more into the sector considering the rise in tourist arrivals, every year.
The Minister also informed that the Nepal Government is currently preparing to introduce a new Intellectual Property Rights law, which is expected to be registered in Parliament by the end of the current session.
“The government is serious regarding the protection of the intellectual property and the patent rights as well,” read Khatiwada’s statement.