'Foreign investment inevitable for Nepal's development'

Kathmandu, June 30  : Nepali Congress (NC) leader and HoR member Dr Arzu Rana has said that foreign investment was inevitable for Nepal's development.    
At a programme organized by Embassy of Nepal in Tokyo, JICA, JETRO and UNIDO in Tokyo of Japan on Thursday, Rana said that foreign investment is not only a complement to domestic investment that bridges gaps between investment and savings, but also is a solution to the gap in foreign exchange reserves.    

She was of the view that India, China and other emerging economies show that FDI can also serve as catalysts for the growth of local small and medium enterprises.    
“It is also a source of new technologies. It can lead to knowledge transfer and skills development. FDI inflows provide employment opportunities for the citizens of the recipient country- opportunities that would not otherwise be available," Dr Rana shared.    

She also asked the investors to make investment in Nepal and take return adding that the average return on equity is about 15 per cent last year.    
Asking the investors to invest in Nepal, she said that Nepal has enacted Foreign Investment and Technology Transfer Act to facilitate foreign direct investment and protect the interest of investors. “Our legal system prohibits prohibition of nationalization of private enterprises.”    

“From social perspectives, socio-cultural organizations such as clubs, community and non- governmental organizations can benefit from the robust corporate social responsibility programmes of multinational enterprises," according to the NC leader. (RSS)