A booklet on industrial, fiscal and tax policies produced by the Nepal-India Chamber of Commerce and Industry (NICCI) in association with four other business associations explains just why investors keep out of Nepal. Bangladesh has a 12-15 year tax holiday for new investors, Nepal has none; Bangladesh does not tax export income, Nepal does; Bangladesh gives customs subsidies to exports, Nepal levies a 0.5-10 percent duty; Bangladesh has a vibrant domestic market with the economy growing by about 6 percent, Nepal's domestic market is small and sluggish (the growth rate here is 2-3 percent), and so on. The NICCI adds that logistics are another factor, as Nepal is pretty much inaccessible, except via overland routes. We're also pro-labour and have a high, hidden cost of getting policies implemented in accordance with laws. All of these drawbacks negate the advantages offered to investors in Nepal in terms of access to north Indian markets and the potential for investment in hydropower and tourism. The NICCI's final message is: none of these problems is insurmountable, but someone needs to take action to make amends fast.