KATHMANDU: Foreign Minister Dr Arzu Rana Deuba has called on Indian entrepreneurs to explore investment opportunities in Nepal, particularly in sectors like energy, infrastructure development, agriculture, tourism, and information technology.
Her remarks came during the Indo-Nepal Economic Conference, which was organized by Kathmandu University and India’s Egrow Foundation in New Delhi today.
Rana stated that Nepal has liberalized its foreign investment policies, creating an environment conducive to high returns.
She noted that Nepal’s ‘Double B Minus’ (BB-) credit rating shows its potential as a destination for foreign investment, and the government has implemented incentive-based policies to attract investors.
Rana also spoke about the importance of further strengthening Nepal-India relations, not only in economic terms but also socially and culturally. She described the relationship between the two countries as one based on deep cultural, religious, and historical ties, which should be prioritized and expanded.
She also discussed the crucial role of cross-border infrastructure in enhancing economic cooperation, mentioning projects like integrated check posts (ICP), railways, petroleum pipelines, and power transmission lines.
Additionally, she highlighted the recent power trade agreement, which includes plans to export 10,000 megawatts of electricity to India over the next decade and the successful export of 40 megawatts of electricity to Bangladesh through India’s transmission line.
The Minister acknowledged India’s significant contributions to Nepal’s foreign trade, infrastructure development, education, health, and industrialization.
She also expressed concerns about the growing trade imbalance between the two countries and called for efforts to diversify and expand trade relations to reduce this disparity.
In her address, Rana pointed out the barriers in Nepal-India trade, particularly non-tariff barriers and structural issues at border trade points, which hinder the growth of economic ties.
The conference also featured remarks from Dr Charan Singh, CEO of Egrow, who stressed the importance of cooperation between neighboring countries in academic research and development.
Dr Achyut Wagle, Registrar of Kathmandu University, emphasized the need for bilateral and regional cooperation to address shared challenges, including climate change, youth migration, and sustainable development.
Wagle also proposed the creation of a payment gateway between Nepal and India as a step toward enhancing economic ties. Dr Ashok Vishandass, Director of Egrow, underlined the role of the conference in promoting regional unity and providing policy-level suggestions for sustainable development.
The conference served as a platform for discussing the future of Nepal-India cooperation in various sectors, with a focus on fostering greater investment, trade, and academic collaboration between the two nations.
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