Foreign investment is in high priority, asserts Minister Bhandari

Kathmandu, Sept 12: Minister for Industry, Commerce and Supplies, Damodar Bhandari, has asserted that the government has given high priority to foreign investment in information technology sector.     

The Industry Minister said so while addressing a programme organized today to sign an agreement between IGC Business Holding Nepal and Keirinkan Co. Ltd., Japan, to establish a joint venture in the Information and Technology (IT) sector.     

“The government is giving high priority to foreign investment in the IT sector. We are committed to providing the necessary support and fostering a positive environment for such investments. The Government of Nepal is ready to cooperate and ensure a smooth process for foreign investors, particularly in the technology domain,” he added.     

According to Minister Bhandari, this agreement has started a new chapter in technological collaboration between the two nations as well as made a significant step towards strengthening Nepal-Japan relations.     

Similarly, Chairman of IGC Business Holding, Nepal, Ganesh Man Lama emphasized the significance of the occasion, stating “Today's ceremony is not just the signing of a document. It is the beginning of a journey – a journey of collaboration, growth, and shared vision between Nepal and Japan. This venture into the Information and Technology (IT) sector reflects our commitment to advancing digital transformation and technological innovation in Nepal, a goal that aligns with the ambitions of our government and the aspirations of our people.”     

Likewise, representing Keirinkan Co. Ltd., Chairman and CEO Satoshi Sato expressed his enthusiasm for the joint venture, highlighting how the partnership would not only strengthen business ties but also foster deeper bilateral relations between Nepal and Japan.     

He reiterated the company's commitment to expanding its operations in Nepal through this venture.     

Similarly, the coordinator of the event, CEO of Midnight Technology, Yoshikawa Yusuke, underscored the importance of this collaboration in propelling technological advancements in Nepal.     

The official agreement was signed by Lama, Chairman of IGC Business Holding, and Satoshi Sato, President and CEO of Keirinkan Co. Ltd., Japan.     

Both parties expressed their commitment to working together in driving the digital transformation of Nepal, aiming to introduce cutting-edge IT solutions and innovations to the market.     

This joint venture between IGC Business Holding and Keirinkan Co. Ltd. is expected to play a pivotal role in Nepal’s digital transformation journey, with the venture focusing on technological innovation and providing advanced IT solutions to the local market.     

The ceremony concluded with a commitment from both parties to work together for mutual growth and success, building on the strong foundation of friendship and collaboration between Nepal and Japan.     

Former Minister Padam Giri and Yasuyuki Yokoyama, First Secretary of the Embassy of Japan to Nepal, were also preset on the occasion.(RSS)