March 14: Prime Minister Pushpa Kamal Dahal has said Nepal has been established as an investment-friendly country due to the easy availability of workforce, revised labour law and the improved industrial relations, among other factors.    
The Prime Minister said this while addressing the Nepal-China Business Forum-2023 jointly organised by the Confederation of Nepalese Industries and the China Council for the Promotion of International Trade (CCPIT) in Kathmandu on Tuesday.    
Expressing that this forum provides an excellent opportunity to strengthen existing business ties and explore new areas of economic and business partnership between Nepal and China, he said, "Nepal and China share a long history of economic, cultural, and people-to-people exchanges. Over the years, we have built strong ties based on mutual respect, trust, and understanding."    
PM Dahal said that relations between the two countries are based on the five principles of peaceful co-existence and have always remained cordial and friendly. This relationship has deepened over the years through regular exchanges of high-level visits.    
"Nepal is firmly committed to One-China policy. It has been our consistent policy to not allow our soil to be used against our neighbours,” he said.   
Nepal-China trade relations date back to ancient times. It began with the engagement of merchants from both sides of the Himalayas which continues today in much more expanded form of trade and exchanges.    
China remains Nepal’s second largest trading partner. Currently, more than 14 percent of our total international trade is with China. Similarly, China is the largest source of foreign direct investment in Nepal.    
“We believe that phenomenal economic progress achieved by our neighbours would open up wider avenues of opportunity for Nepal to grow and prosper through expansion of export trade and enhanced level of inward investment. We expect easy and more generous market access to our products in the vast markets of our neighbours. Mutual recognition of standards and accreditation will help promote our exports,” said PM Dahal.   

While talking about Nepal's trade and investment potentials, PM Dahal outlined some of top priorities of the incumbent government.    
He said that the country has entered into the second cycle of democratically elected government under the federal system following the successful holding of the elections of all tiers.

“We are aware that foreign investment requires a stable political environment. Now, we are in a position to assure you of the continuity and stability in policy. The present government is firmly committed to deliver economic dividends of democracy to the people. For that, it has a clear vision and strategy, strong commitment, and strong support of the people. Our objective is to translate the people’s aspirations for peace, stability, and prosperity into reality.”    
PM Dahal also reiterated that Nepal has been pursuing a business and investment-friendly policy.

“We have made major reforms in our investment regime that encourages, promotes and protects foreign direct investment. Our tax slabs are one of the lowest and our position is fairly good in ease of doing business. Investment in any sector is profitable in our country given the nascent stage of our industrial development. Profitable areas of investment include hydropower, industrial manufacturing, infrastructure development, tourism, agriculture, minerals, and mining, among others,” he added. -- RSS