टर्कीका ब्यवसायीलाई नेपालमा लगानी गर्न मन्त्री भट्टराईको आग्रह

काठमाण्डौ । टर्कीका ब्यवसायीहरुलाई नेपालमा लगानी गर्न नेपाल सरकारले आग्रह गरेको छ । विहिवार संस्कृति पर्यटन तथा नागरिक उड्डयन मन्त्री योगेश भट्टराईले टर्कीका ब्यवसायीहरुलाई भर्चुअल बैठक गदै नेपालमा लगानी गर्न आग्रह गरेका हुन ।
मन्त्री भट्टराईले नेपालमा लगानी गर्ने प्रसस्तै अवसर भएको जनाउदै अहिलेको संसदमा बहुमतले बनेको वर्तमान सरकार समृद्धि र विकासको लागि प्रतिबद्ध भएको बताए । उहाँले सरकारको नारा नै “समृद्ध नेपाल र सुखी नेपाली“ भएकोले समृद्ध नेपाल बनाउन ब्यवसायीलाई आग्रह गरेका छन । मन्त्री भट्टराईले नेपालमा जलविद्युत् र पर्यटन क्षेत्रमा लगानी गर्ने अवसर भएको धारणा ब्यक्त गरेका छन ।
बैठकमा टर्कीका बैदेशिक आर्थिक तथा सम्बन्ध बोर्डका अध्यक्ष निल ओलपाक ,नेपालमा टर्कीका राजदूतसकिर ओजान टोरुनलर, व्यापार परिषद अध्यक्ष श्री मुस्तफा अकिनसीलर सहभाागी भएका थिए ।

ADDRESS BY HON. YOGESH BHATTARAI, MINISTER OF CULTURE, TOURISM AND CIVIL AVIATION GOVERNMENT OF NEPAL AT ONLINE SEMINAR ON THE “BUSINESS AND INVESTMENT OPPORTUNITIES IN NEPAL”

11^TH JUNE 2020 (14:45hrs – 16:15hrs/Nepal time)

President of Foreign Economic and Relations Board Mr. Nail Olpak Excellency Ambassador of Turkey to Nepal Mr. Sakir Ozkan Torunlar Business Council Chairperson Mr. Mustafa Akincilar

All the participants in this online seminar

Namaste, Good afternoon and Asslam Walekam

I am delighted to be a part of this important seminar being held on the issue of “Business and Investment Opportunities in Nepal”. I take this opportunity to appreciate the initiative of The Foreign Economic and Relations Board of Turkey to organize this online seminar and I thank you for having me onboard. I am pleased to hear the profound deliberations from the speakers in the seminar. All of them have highlighted very pertinent issues and pointed out concerns regarding investment and business in and with Nepal.

Today, the whole world is fighting the invisible enemy, COVID 19, which has taken a large number of lives and caused a big damage on our economies. With new parameters of social distancing and other health and hygiene protocol in place around the world, the humanity is emotionally closer and more empathetic than before. We have been sharing our experiences online and other means of communication. This seminar is also a milestone in our move towards new normal.

Turkey’s effective response to this pandemic is laudable and its initiatives for the resumption of business activities deserve special appreciation. I would like to take this forum to thank His Excellency Minister of Culture and Tourism of Republic of Turkey for the warm words in the letter addressed to me few days ago. Government of Nepal admires his calculated and professional steps to open tourism and aviation activities by ensuring health and safety standards for all. Nepal is also handling this crisis with utmost care. We are trying to contain its spread and minimize fatalities. Tourism of Nepal is one of the hardest hit sectors by this crisis. We are confident that we will defeat this pandemic soon and will resume our economies and tourism will revive as before.

Coming to today’s topic: “Business and Investment Opportunities in Nepal”, let me briefly outline the scenario in Nepal. Government of Nepal welcomes foreign investment with open heart and assures of all supports and cooperation to the investors as regards investment security.

Constitution of Nepal in directs the state policy to encourage and mobilize foreign capital and technology investment for import substitution, export promotion and infrastructure development to suit its national interests.

The ongoing 15^th Periodic Plan has envisioned an innovative, competitive and dynamic economy thorough the mobilization of foreign investment.

Regarding FDI, there are several rules and regulations which currently prevail in Nepal. Foreign Investment and Technology Transfers Act 1992; Industrial Enterprises Act 2016; Private Investments in Infrastructure Act 2006; Investment Board Act 2011; Contract Act 2000; Company Act 2006; Income Tax Act 2002; Foreign Exchange (Regulation) Act 1963 are some of the important governing legal frameworks that emphasize and prioritize investment opportunities.In addition, Government’s policy, programs and budget over the last decade have given high priority in FDI.

Now, there are around 300 firms investing in Nepal. In addition, Investment Summit held in Nepal in 2017 observed additional investment commitment worth 13.74 billion US Dollar on ten sectors through 26 companies from 8 countries. The trend of investment in various sectors in Nepal is growing over the last ten years.

The biggest chunk, 70% of the FDI in Nepal as of now is on Service sector which includes communication, financial intermediation, education, hotels and restaurants, while industrial sector ranks second in FDI status. Agriculture has received the least share of the FDI.

There are few factors that are encouraging on investment in Nepal. First, Nepal has the most conducive environment for investment because of political stability. We have settled all political agendas and promulgated a federal democratic republican constitution that guarantees all democratic rights and ensures inclusiveness. All three tier governments have been formed democratically and no political agenda lies unaddressed. The present government formed with majority in the parliament is committed for prosperity and development with the aspiration of “Prosperous Nepal and Happy Nepali”.

Second, demographic dividend. 56% of the total population in Nepal are between 18 to 60 years of age. This is the most active age group who can be big assets in industries and businesses of all kinds.

Third, natural resources: different researches and studies have derived a conclusion that the viable capacity of hydroelectricity in Nepal is 42000 MW while we are at present operating on 1100 MW though a significant number of hydro projects are underway and some of them are nearing completion. However, there is an incredible potential of hydroelectricity. Similarly, bio-diversity and rich vegetation across the nation with medicinal herbs are a huge demand from around the world. Due to this geographic variety, there are ample opportunities of agriculture. Tourism has always been a center of attraction for the global investors. This has led to investment on hotels, resorts, restaurants, cable cars, amusement parks, airports, and much more. Government has adopted the policy of developing hill stations as tourism products all across the nation which can be a big attraction for millions of Indian tourists living across the border which hot most of the time in a year. This is very fertile area for investment among many other tourism activities. In a nutshell hydropower and tourism are some of the most lucrative areas of investment among others.

Fourth, As a developing country, Nepal needs more to improve and develop infrastructure and expand and upgrade industrial production. Varied and largely hilly topography, we need to upgrade our mode of transportation both on land as well as air. This is also a fertile area of investment.

And Fifth, Nepal lies at a strategic location linked to world’s most populous countries and big economies: India and China. This position offers an investor an opportunity for market exploration and expansion.

Talking about Nepal-Turkey business relations, it is growing year by year. Thanks to multi-layered relations strengthened over many decades since our diplomatic relations established in 1962. Today, we have Nepal-Turkey Parliamentary Group, Political Consultation mechanism, Turkish Nepalese Business Council, Nepal-Turkey Chamber of Commerce to name a few. Since 2013, Turkish Airlines has further cemented our relations due to its scheduled flights between Istanbul and Kathmandu. It has also directly connected Nepal to Europe and has contributed for the arrival of Western tourists to Nepal. Some of the important items Nepal exports to Turkey are handmade carpets, metal wires and threads. But there are ample areas of trade relations between these great nations. Last year, a Turkish firm together with Nepalese partner started to invest in communication sector in Nepal.

We invite Turkish investors to Nepal for which we are committed to create any conducive environment. COVID 19 pandemic has set new scenario demanding a change in our modus operandi. We hope to get back to new normal with more socio-economic activities.

Once again I repeat, with our collective efforts, we will defeat this crisis and revive our businesses under new circumstances. I hope, our tourism and aviation sector will come back to normal soon. I invite all to be united to fight and to prosper.

Once again, I thank all of you for your kind attention.