PM Oli urges Indian businesses to invest in Nepal

New Delhi, Apr 7 (KNN) For economic prosperity of Nepal and India’s benefit, Nepal Prime Minister K.P. Sharma Oli requested Indian Businesses to invest in Nepal and participate in the Himalaya Nations efforts.

Speaking at the India-Nepal Business Forum meet organized by 3 Indian Industry Chambers including the Confederation of Indian Industry, Oli said that the aim of his government is to bring visible changes in the living style of the people and to bring stability and economic prosperity.

Oli listed infrastructure, tourism, power, agriculture & information technology as areas that hold opportunities for foreign investors and help India to become Middle Income country by 2030.

On seeking investments from India, Oli said that the law and order situation in his country is improving and his administration has a zero tolerance approach towards corruption.

Nepal “is safe for foreign investment”, he added.

“Indian investors have invested across the globe, so why not to go to the next door Nepal”, he asked the audience.

Further he stressed on the facts that geographical proximity, easy access and cultural similarities are all there to make you feel good about Nepal , the only thing is needed is to seize the opportunity.

On discussing the key strengths and challenges of Nepal, he said that market is not a problem but production is a problem.

He assured the investors that they can grab the market of 2.5 billion people by investing in Nepal.

Further, he emphasized on Nepal duty-free access to European markets, reduced tariffs, simplified tax regime, low tax slabs, no income tax on dividends and export earnings and tax holidays for certain industries.

He said that the Nepal has attractive incentives to offer compared to other countries.

“All sectors open for investment and we are eager to work together with business community of India, he added.