DPM Paudel urges Malaysian investors to invest in Nepal

By A Staff Reporter,Kathmandu, July 5: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has urged Malaysian investors to invest more in Nepal's physical infrastructure and tourism sectors.

Stating that there is good potential in Nepal's infrastructure development and tourism, DPM Paudel urged the investors participating in a delegation of the Malaysia-Nepal Business Council to invest more.

"Nepal has a suitable environment for investment from the private sector. Policies are investment-friendly. Identify investment areas and prepare well and move forward. The government is ready to support and facilitate," he told the delegation which is on a Nepal visit. 

Participants in the delegation have expressed interest in investing in information technology, trade, hydro, infrastructure, environment, tourism and other sectors, according to DPM Paudel's secretariat.  

The delegation led by President of Malaysia-Nepal Business Council Pradeep Kumar Kukreja,  included Dr. Chai Ki Khan, Ganesh Kumar Bangah and MK Sangrah, among others.

The delegation has made a separate discussion with Federation of Nepalese Chambers of Commerce and Industry and Nepal Chamber of Commerce (NCC).

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Malaysia-Nepal Business Council (MNBC) have held discussions on expanding Nepal-Malaysia trade relations, investment and ASP cooperation.

In the discussion held at the Federation’s Secretariat, Teku, Kathmandu on Thursday, both sides had detailed discussions on the possibilities of cooperation in the development of Nepal-Malaysia bilateral trade, investment promotion, tourism expansion, construction, agriculture, energy, information technology and service sectors. 

On the occasion, the officials of the Federation informed about the possibilities and opportunities for expanding cooperation between Nepal and Malaysia.

Senior Vice President of the FNCCI Anjan Shrestha said that Nepal has prioritised regional cooperation through regional organisations such as BIMSTEC and SAARC, and that Nepal wants to increase exports and attract more investment from Malaysia to reduce its trade deficit with Malaysia. 

He said that the Malaysian private sector can play an important role in connecting Nepal with the Association of Southeast Asian Nations, ASEAN.

In the meeting, President of Malaysia-Nepal Business Council Kukreja said that there is ample potential for investment and trade between Nepal and Malaysia. 

“I am aware of the many possibilities for trade and investment between Nepal and Malaysia. Malaysia has recently made a great progress in the areas of infrastructure development, information technology and tourism. There can be cooperation with Nepal in this regard. MNBC is ready to provide necessary facilitation if the government and businessmen here want it,” said Dr. Kukreja.

Similarly, a delegation from the Malaysia Nepal Business Council and the Nepal Chamber of Commerce (NCC) held discussions on trade facilitation and investment promotion on Wednesday.

During the discussion, NCC President Kamlesh Kumar Agrawal recalled that the diplomatic relations between Nepal and Malaysia are more than 65 years old and said that they are excellent in the perspective of trade, investment promotion and employment.

President Agrawal said that more than 500,000 youth from Nepal are getting jobs in Malaysia and the air connectivity between the two countries is expanding the most.

He said that Nepali youth have made a significant contribution to the economies of both countries. However, he stressed the need for trade facilitation to reduce Nepal's trade deficit with Malaysia.