Nepal to provide conducive environment for FDI: Prachanda

Prime Minister Prachanda today urged global investors to put their money in Nepal, saying his government was making efforts to provide a conducive environment, including political stability, for FDI in the country.
It is inevitable to bring in Foreign Direct Investment (FDI) for Nepal's economic development and all are unequivocal on this, Prachanda said as he inaugurated the Nepal Investment Summit 2017 here.
The government was putting in every possible effort for creating environment conducive to foreign investment, he said.
Peace and prosperity complemented each other and that the summit has been organised to promote Nepal as a foreign investment destination, Prachanda said.

"Private sector would get a suitable opportunity only when there is political stability and harmony among the political parties," the Prime Minister said.
He expressed commitment to introduce appropriate policies and laws, and make the environment suitable.

Around 500 delegates, 250 from nearly 25 countries including India, are attending the two-day summit.
President of Asian Infrastructure Investment Bank (AIIB) Jin Liqun said the AIIB was ready to help Nepal in utilising its natural resources for developmental projects and work with the World Bank and other financial institutions for the same.
Minister for Industry Nabindra Raj Joshi said the summit will help create suitable environment for foreign investment which will generate youth employment.

He called the investors to invest in agriculture, tourism, infrastructure, hydropower and other sectors for accelerating Nepal's development activities.
Nepal has adopted economic liberalisation with the restoration of democracy in 1990 and all sectors here witnessed transformation with the establishment of liberal political-economic system, Former finance minister Ram Sharan Mahat said.
This year, Nepal received foreign investment worth Rs 30 billion from several countries including China mainly in the areas of hydropower and cement industry, Mahat said.
Finance Minister Arun Jaitley will also address the summit as one of the keynote speakers.
Nepal has witnessed a prolonged political instability in the recent past with power tussle overshadowing national issues. Frequent changes in government have affected its development and economic growth to a large extent.

Last year, former prime minister K P Oli stepped down after a key coalition partner, the Communist Party of Nepal (Maoist-Center) led by Prachanda, withdrew support. Oli's government served a tenure of only nine months.
Madhesis, mostly of Indian-origin, launched a six-month- long agitation during Oli's tenure, demanding more representation in all state mechanism, from September 2015 to February last year in which more than 50 people were killed.
The current government led by Prachanda is the ninth in the last eight years.