Govt advised to live up to commitments it will be making before investors

Kathmandu, April 27: Former Vice Chair of the National Planning Commission (NPC) Deependra Bahadur Kshetry has advised the government to live up to promises it is making with investors in order to ensure the success of the Investment Summit. 

Talking to RSS on the eve of the Nepal Investment Summit (April 28-29) commencing here on Sunday, Kshetry stressed that during the Summit, we should assure potential investors with all sorts of facilities to them as per commitments. “We should not believe that investors will come to invest haphazardly. Investors turn ready to put money into new area if they are convinced by a given atmosphere,” he viewed.

Despite having abundant capital for investment, investors will use their conscience and get ready to take a risk upon the assessment of relative comparative benefits. 

“We face a capital crisis. Again, unfortunately, the limited capital allotted by the government through the budget has remained frozen.  In this situation, the government should convince foreign investors that it yearns to introduce technologies and management skills in addition to capital through the Investment Summit,” the former Nepal Rastra Bank (NRB) governor said.

 According to him, Nepal has not been yet able to ensure a sovereign credit rating. We are yet to audit the country’s situation for receiving loans which is the need of hour. Potential investors always calculate the objective situation before deciding to invest, Kshetry reminded.

He, however, said, “To say that we have 148 projects to put in a showcase suggests the government’s good preparations for the event.”   Kshetry advised the government that it left no stone unturned to provide quality hospitality services to the investors arriving to attend the Summit.

Moreover, a capable human resource is warranted to facilitate processes to propose investors and the agreement procedures.