Kathmandu. Finance Minister Dr. KATHMANDU: Swarnim Wagle has urged the non-resident Nepalis to invest in the country, saying an environment conducive for investment has been created in the country. He made this call while addressing the 11th Asia Pacific Regional Conference of the Non-Resident Nepali Association (NRNA) held in Guangzhou of China. 

Finance Minister Dr. Wagle said that the incumbent government has accelerated the economic reforms . Through the budget presented on May 29, the government has initiated the process of amending and formulating 27 new acts and has brought programs to reform public institutions, mobilize private finance in infrastructure development and attract the younger generation to the latest technology such as artificial intelligence (AI).

The government has been removing policy-level obstacles to attract foreign investment, he said, adding that the ‘Securities Allotment and Issue Regulations’ have been amended recently. 

The amendment has ensured up to 85 percent share in the shares to be issued from the fund NRN and and this has given high priority to the investment of the Diaspora, said Finance Minister Wagle. 

Similarly, Finance Minister Dr. Wagle said that there are ample investment opportunities for NRNs especially in the areas of information technology, , tourism, clean energy, commercial agriculture and green re-industrialization . Stating that preparations were underway to operate sick industries through public-private partnership and operational lease, he said the capital and experience of overseas Nepalis would be important in this. 

Stating that the government has given special importance to the investment of the Diaspora as a ‘soft power’, he urged the NRNA members to participate in the promotion of domestic production and import substitution.