Four potential areas of investment excellent: Finance Minister Mahat

KATHMANDU: Finance Minister Prakash Sharan Mahat addressed the India-Nepal Business Forum on Monday and said there were four possible areas of investment in Nepal.

He said hydropower, tourism, agriculture, and information technology were excellent investment areas in the country. He said the government would not only encourage investment in these areas, but also offer good returns. He opined that investing in education and health sectors could also yield excellent returns.

More than 50% of Nepal's area is highland and 20% is plain land, while the rest belongs to the Himalayan region. Finance Minister Mahat urged all attendees of the forum to publicise the investment potential of Nepal. As Nepal has progressed in the hydropower sector and India has already signed an agreement to purchase 10,000MW of electricity in 10 years, the private sector should also pay attention to exporting other items, the finance minister said.

Rejecting propaganda about Nepal's unstable political system, Minister Mahat claimed that Nepal was an excellent investment destination. 'Nepal can become the best investment destination in South Asia,' he claimed.

He said the business environment would become stronger in the coming days. He urged all the Indian businesspersons participating in the forum to invest in Nepal.

Informing about the upcoming investment summit to be held on April 28-29, Finance Minister Mahat expressed his commitment to improving laws, policies, and regulations related to investment. He said existing laws will be amended to facilitate investment.

The finance minister said that although there were hundreds of tourist destinations in Nepal, they could not be fully utilised due to poor road conditions and committed to improving the roads in the coming days.

On the occasion, he emphasized the importance of cooperation between the private sectors of Nepal and India for business and investment.

The minister asked foreign investors to get information about the investment potential of Nepal before the investment summit.