PM Oli urges Swiss government to boost foreign investment in Nepal

KATHMANDU: Prime Minister KP Sharma Oli has urged the Swiss government to facilitate more foreign direct investment (FDI) for Nepal's economic development and prosperity.

During a meeting with the Swiss Ambassador to Nepal, Danielle Meuwly, at the Prime Minister's official residence in Baluwatar on Wednesday, PM Oli emphasised that foreign aid is crucial for the country's development.

He noted that the Nepalese government is working to make state structures accountable to the people by strengthening democracy, and highlighted that Nepal has adopted Switzerland's practices for developing an inclusive democratic structure.

The Prime Minister committed to implementing necessary reforms to attract more FDI, citing the enthusiastic participation of 50 countries in the recent Nepal Investment Summit.

Prime Minister Oli expressed hope for increased support from development partners, as Nepal aims to graduate from a least developed country to a developing country by 2026 and to become a middle-income country by 2030.

He thanked the Swiss government for its continued support in Nepal's development efforts, Covid 19 prevention, and the peace process.

Swiss Ambassador Meuli congratulated Prime Minister Oli on his tenure and assured continued collaboration and cooperation between the two countries.