January 23: Stakeholders have pointed out that Nepal still has to develop the culture of welcoming investors and investment as foreign direct investment (FDI) is required to fill the infrastructure gaps in Nepal.    
Speaking at a programme organized by US Education Foundation Nepal to discuss the potential and challenges for investment environment in Nepal, the participants argued that Nepal has failed to pay attention to the investors' will.    
They also pointed out that legal and administrative hassles, assurance of profit, guarantee of return on investment, availability of feasible projects for FDI, access to market for goods and services among others were the key challenges for bringing in FDI in Nepal.    
On the occasion, Chief Executive Officer (CEO) of the Investment Board of Nepal Sushil Bhatta said that “we don’t have projects to showcase for the investors”.

He added that facilitation on the part of the Government of Nepal to create enabling environment for investment is still insufficient.

"We have challenges in the prefeasibility study of the projects. The consulting firms are not efficient," he expressed his regrets.    
Bhatta stated that preparations are ongoing to sign some major projects in the upcoming Third International Investment Summit to be held on April 21 and 22 in Kathmandu. "Investment Summit is a journey not a destination. There is immense potential for investment in service sector, high value manufacturing industries, IT sector besides infrastructure development," Bhatta said.    
Former CEO of IBN Radhesh Pant called for responsibility and accountability to bring in more FDI.    
Likewise, Joint Secretary at the Ministry of Industry, Commerce and Supplies Baburam Gautam said the private sector also should play a supportive role to create positive environment for welcoming FDI in Nepal. -- RSS