Nepal wants to build close partnership with Japanese private sector: President Poudel

By TRN Online, Kathmandu, Feb 2: President Ramchandra Paudel has called on the Japanese business community to explore investment opportunities in Nepal.

President Ramchandra Paudel has called on the Japanese business community to explore trade and investment opportunities in Nepal, assuring them of the government’s full commitment to facilitating foreign investment.

Addressing an interactive meeting with members of the Japanese business community in Tokyo on Monday, organized on the occasion of the 70th anniversary of the establishment of diplomatic relations between Nepal and Japan, President Paudel said Nepal is keen to build close partnerships with the Japanese private sector.

He expressed confidence that the Government of Nepal is fully committed to providing all possible support for investment and trade, including facilitation, security, and an investor-friendly environment.

“We have created a stable macroeconomic environment with attractive returns on investment, easy procedures for profit and capital repatriation, and policy stability. The government is fully committed to providing complete support, seamless facilitation, and protection for foreign investment,” President Paudel said.

Stating that the 70th anniversary of Nepal–Japan diplomatic relations is an opportune moment to foster a close partnership in areas of mutual benefit, President Paudel highlighted the long-standing and culturally rooted relationship between the two countries.

He noted that both nations are inspired by the philosophy of Gautam Buddha and recalled Buddha’s message, saying, “The victory of peace is one in which no one is defeated.”

President Paudel urged Japanese investors to invest and conduct business in Nepal with confidence, particularly in sectors such as agriculture, water resources, and tourism, emphasizing that such investments would benefit both Nepal and Japan. “Investing in Nepal will bring wealth. It is virtue as well,” he remarked.

“The relationship between Nepal and Japan, founded on goodwill, friendship, and cooperation, has been exemplary. I am confident that the enthusiastic participation of the Japanese business community here today will help establish stronger trade and investment ties between our two countries,” he said.

President Paudel also praised Japan’s decades-long support as a reliable development partner in Nepal’s socio-economic development, noting that bilateral relations have deepened not only at the government level but also among the people of both countries.

He said Nepal’s efforts are focused on achieving social justice, good governance, and prosperity alongside political stability. 

He further noted that Nepal is set to graduate from the Least Developed Country (LDC) category by the end of this year, with the goal of becoming a middle-income country by 2030.

He opined, "A huge resources is need for such campaign. Nepal has focused its attention on attracting maximum foreign investment in the areas of national priority, increasing Nepal's trade, diversifying inter-affiliation, promoting tourism and acquiring advanced technology." 

The Head of the State expressed the belief that no country would be prosperous without working together by government and private sector internally and partnership with other countries at present.

Nepal has opened almost every sector for foreign investment including manufacture, hydropower, tourism, service, information technology, mines and industry based on agriculture, to make trade smooth and to promote innovation by making legal, procedural and institutional reforms following the liberal economic policies, he made aware the business community.  

The President mentioned, "Investment Board Nepal provide a one-door service to big investors. The International Monetary Fund, World Bank and major international credit rating agencies through independent assessments have confirmed that Nepal offers one of the most favourable business environments in South Asia."

In his belief, Nepal's location in between two rising economic giants India and China could offer a huge advantages to the potential investors.

On the occasion, Charge d' Affaires of Nepal to Japan, Harihar Kant Poudel, welcomed President Paudel where Secretary at the Foreign Ministry, Amrit Bahadur Rai, and Joint-Secretary Bhrigu Dhungana made presentations on the potentials of investment in Nepal.

Likewise, some of the members of Japanese Business Community shared that they were happy after getting to know that there are many opportunities for the investment in Nepal, expressing the view that it would contribute to open doors for investment.