Nepal-focused investment drive of an enterprising NRN

By A Staff Reporter,Kathmandu, Mar. 21: A new investment campaign in Nepal has been launched by foreign citizens of Nepali origin. The goal of the initiative known as "Connect NRN, Build Nepal" is to raise money from people of Nepali descent, who have become foreign citizens, and invest it in Nepal According to Gyari (Gyanendra) Karki, an Australian citizen of Nepali origin, the campaign was started to use the knowledge, abilities, resources, and professional expertise of Nepalis who have acquired citizenship abroad for Nepal's development.

The Non-Resident Nepali Association (NRNA) is unrelated to and separate from this campaign.  The campaign serves as a link to gather small sums of money from Nepalis who have migrated abroad and bring them back to Nepal as investments, Karki said.

Karki is very clear that even after obtaining foreign citizenship, there is still a desire among the Nepali staying abroad for the progress and development of Nepal. He informed that a preliminary investigation to put the idea of smart cities into practice in Nepal was being conducted. In response to the idea of a "smart city," he claimed that it was possible to divide different areas to create parking lots, hospitals, and residential areas in Nepal.

"The campaign wants to change the tendency of non-resident Nepalis who invested in big power projects here in the past," said Karki, who is involved in this campaign to change the situation where only a few people are investing in big projects in the name of NRNA and taking profit. 

According to Karki, Nepal Rastra Bank should establish a concrete plan to transfer the funds amassed in this manner into Nepal. "This campaign can bring such money to Nepal if there are clear criteria for investing in the projects and security of investment," he said. He asserted that it should also be obvious whether to let the investment's profit grow or get it reinvested.

He said if there was a tax exemption for investments made here, a lot of money could be brought in because the same amount of tax paid abroad is brought to Nepal. "Investment will not come if there is political interference in our campaign. We can create a situation where no Nepali will need to travel abroad in 10 years if we make the process simple and permit investment," he said.

According to him, the country cannot advance economically solely through remittances and donor organisations, making it crucial in the current crisis to connect the NRN.

Karki has also launched a campaign to impart practical skills on Nepali students studying in Australia under his direction. He said that the initiative, called the "Sarathi Foundation," aims to give Nepali students' knowledge that they can use in the restaurant and IT industries. According to him, such brief training will give students the chance to find rewarding employment in Australia. He made it clear that there is no cost for the students to participate in this training.

In a similar vein, he also made it possible to invest in new companies. He informed that such startups are investing at least $50,000 per project, according to their thinking. He stated that the investment would be increased as required while operating the business.

Karki, who was raised in Rangeli, Morang, has spent the last 14 years managing and running businesses worth 50 billion rupees. Long involved in the medical industry in Kathmandu, he first travelled to Australia 14 years ago and began his stay through business. Metro Project Developments Group, Metro Home Partners, Lavis Construction and Development, Annapurna Residential, and Expert State Agents are just a few of the businesses operating in Sydney under his direction. These businesses offer a wide range of real estate-related services, he added.