Kathmandu, June 1
The Nepal Chamber of Commerce (NCC) has urged the government of Japan to consider industrial investment in Nepal.
In a meeting with the Japanese Ambassador to Nepal Yutaka Kikuta, the chamber’s President Rajendra Malla urged the Japanese government to create enabling environment for Japanese investment in Nepal’s hydropower, road and tourism sectors.
“Nepal has recently made a number of policy reforms to provide security to foreign investment. The government of Nepal has announced in its recently unveiled budget for the upcoming fiscal year that it would provide land on lease for 50 years. We are committed to providing security to Japan’s investment in Nepal,” said Malla.
He urged the Japanese envoy to Nepal to set up factories in Nepal to manufacture products that were high in demand abroad and are used domestically to help reduce the trade deficit between Nepal and Japan. Stating that the land price and labour costs were less costly in Nepal, Malla appealed to the Japanese ambassador to consider setting up factories in Nepal and to trade with India and China among others.
“We would like to further advance ties between Nepal and Japan through commercial activities,” he said.
Furthermore, Malla appraised Japanese envoy Yutaka that the government of Nepal had highly prioritised the agriculture sector in the forthcoming budget and requested the Japanese ambassador to take initiative to introduce Japanese technology to Nepal’s agriculture sector.
