NCC urges Malaysian government to invest in Nepal

KATHMANDU: Nepal Chamber of Commerce (NCC) has urged the Malaysian government to establish an industrial village in Nepal. The NCC has urged Malaysia to build an industrial village under the concept of integrated investment in tourism, information technology and production. In a meeting held with Mohd Fadzle Abu Hasan, Chargé d'affaires at the Malaysian Embassy, at Chamber Bhawan in Jamal, NCC President Rajendra Malla said that the chamber would take initiative to ensure Malaysian investment. Malla said, "There has been a high level of cooperation between Nepal and Malaysia in the field of labour." Malaysia has also become an excellent destination for Nepal in terms of remittance inflows. About 400,000 Nepali youths are employed in Malaysia. Hence, together with labour cooperation, we urge the Malaysian government to invest in other sectors as well. " NCC President Malla said that there should be a high level of cooperation between the governments of the two countries in investment. He urged the Chargé d'affaires at the Malaysian Embassy to invest in Nepal especially in tourism, hydropower, information technology and handicrafts citing that Nepal has already made many reforms in the policy area for foreign investment. The NCC President expressed his commitment to taking initiative on behalf of the private sector to ensure Malaysian investment. Chargé d'affaires Hasan said although they are ready to invest in Nepal, the law on assurance of return has not been clear. He said, "Malaysia has been increasing its investment in the field of information technology in South Asian countries recently. We have no problem investing in Nepal. But the policy provisions regarding returns are not clear. ' Reminding that Malaysia still provides employment to millions of Nepali youths, Hasan said that this number may increase in the coming days. According to Hasan, Malaysia is ready to invest in Nepal in the fields of hydropower and tourism. On the occasion, Malla stressed the need for cooperation between Nepal and Malaysia in the private sector as well. He said economic ties could be further strengthened if the business sectors of both countries were represented in the international level fairs. READ ALSO:

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