KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
Prime Minister KP Oli urged industrialists to invest in Nepal, emphasizing the government’s efforts to create an investment-friendly environment. He highlighted a vision of a “Prosperous Nepal and Happy Nepali,” aiming to instill confidence among investors by showcasing the positive trajectory of the economy due to policies implemented by the UML-Congress coalition.
Acknowledging the nation’s past economic struggles, Oli pointed to recent strategic initiatives that have begun to yield improvements.
Supporting his claims, Finance Minister Bishnu Prasad Paudel noted that Nepal’s recent BB sovereign credit rating reflects favorable conditions for investment, indicating a robust economic structure and effective public finance mobilization.
These reassurances, coupled with a promise of enhanced security and good governance, position Nepal as an emerging investment destination in the region.
Meanwhile, other economic indicators, such as a rise in gold prices and a significant increase in paddy production in Dang, further suggest positive economic momentum, even as the US dollar reaches a record high against the Nepalese rupee.
PM Oli urges industrialists to invest in Nepal
Prime Minister KP Sharma Oli urged industrialists to invest as investment friendly environment is created within the country.
PM Oli made a compelling case for increased investment in Nepal, highlighting the government’s commitment to fostering a secure and business-friendly environment.
By promoting the vision of a “Prosperous Nepal and Happy Nepali,” Oli aimed to instill confidence among industrialists and multinational corporations, emphasizing the positive trajectory of the economy as a result of current policies under the UML-Congress coalition.
He acknowledged past economic challenges but asserted that strategic governmental initiatives have begun to bear fruit, signaling an improvement in economic conditions.
Furthermore, Oli’s promise of enhanced security and good governance serves to reassure potential investors of a stable framework for their ventures, ultimately positioning Nepal as an emerging destination for investment in the region.
Investment friendly environment created in Nepal: Finance Minister Paudel
Finance Minister Bishnu Prasad Paudel has said that an investment-friendly environment has been created in the country.
He stated that after Nepal got a BB score in the sovereign credit rating, Nepal has become a suitable environment for investment.
He said that the rating indicates that Nepal’s economic structure, public finance mobilization and macroeconomic and financial conditions are investment-friendly and advanced.
Gold price up by Rs 1,500 per tola today
The price of gold increased in the Nepali market today.
According to the Federation of Nepal Gold and Silver Dealers, the price of gold increased by Rs 1,500 per tola on Friday, bringing the current rate to Rs 165,500 per tola.
On Thursday, gold was trading at Rs 164,000 per tola. In contrast, the price of silver has remained stable.
Paddy production increases 10 percent in Dang this year
Paddy production has increased by 10 percent in Dang district this year compared to the last year.
The district produced 178,700 metric tonnes of paddy this year, the District Agriculture Knowledge Centre said.
Sufficient rain and timely supplies of fertilizers contributed to increased paddy production, it is said.
US dollar hits a record high on Friday
The US dollar hit a record high on Friday, while other currencies such as the Australian dollar, pound sterling, and Kuwaiti dinar appreciated in value. Conversely, the euro experienced a decline.
According to the Nepal Rastra Bank, the buying price for one US dollar was set at 134 rupees 90 paisa, with a selling price of 135 rupees 50 paisa—both figures represent the highest rates recorded to date.
(Prepared by Srija Khanal)
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