Investment environment is improving: Dr. Mahat

By Our Correspondent,Narayangadh, Dec. 27: Finance Minister Dr. Prakash Sharan Mahat has said that the investment environment in the country has been improving. Talking to journalists at Bharatpur Airport on Tuesday, Finance Minister Dr. Mahat said that the investment environment was gradually becoming favourable as the indicators of the economy were positive.

“The economy is getting back on track. The investment environment is gradually improving", he said, adding, "Somebody tried to disrupt the investment environment by showing fear to the investors, but we have managed to break it now and convey the message that the situation is comfortable."

Stating that there was a problem when there was a lot of negative publicity that there was no future in Nepal, he said that now negativity over the economic indicator had been cleared. "The illusions in the market are contrary to the economic indicators", he said.

 Finance Minister Dr. Mahat urged the investors to invest without getting confused.  “The stock market and real estate businesses are gradually improving. The largest number of tourists have ever entered Nepal. Now there is an adequate foreign currency reserve. Remittance inflow is still high," he said.

"There is more propaganda that nothing should be done even in such a favourable situation for investment. Against this, the private sector and civil society need to explain the reality to the public."

He informed that there was ample capital in our market and said that it was necessary to make it vibrant. "The interest rate has decreased, its effect has started to affect the banks", he said.

The latest decision of the Nepal Rastra Bank has addressed the distressed businessmen, he said, adding that this has also opened the way to create an investment-friendly environment.

Elephant festival begins

In the meantime, Finance Minister Dr. Mahat inaugurated the elephant festival that started in Sauraha, Chitwan on Tuesday. Inaugurating the festival, which was organised to promote tourism, he said that the country's tourism was now gaining momentum.

"The flow of tourists so far is a sign that the tourism business has caught the rhythm," he added, "If investment in infrastructure is centralised, new tourism potential areas will open up.” Earlier, the elephant festival was held at the yard of Baghmara Community Forest, but this year it was held at the yard ear Chitrasari.

The festival will continue till Saturday. The Elephant Festival, which was organised in previous years by including elephant activities and sports, is being done with some modifications from this year.

According to Ganga Giri, president of the association, special attractions of the festival are the elephant feast, elephant beauty competition, and cultural programmes.