Soaring confidence - Nepali Times

Headline
Soaring confidence

FROM ISSUE #585 (30 DEC 2011 - 05 JAN 2012) | TABLE OF CONTENTS

SUBSCRIBE NT

REFER

WRITE TO EDITOR

MIN RATNA BAJRACHARYA

After declaring Nepal Investment Year 2012-13, the government has set up the Nepal Investment Board as a "one window" office to attract foreign investors in hydropower, infrastructure and the service industry.

Investors like Pokhara's Avia Club Nepal (above) have persevered and kept flying for 15 years despite all odds. Those with staying power are well placed to reap the benefits of growth that will follow political stability.

However, the CEO of the newly-formed Nepal Investment Board, Radhesh Pant has his work cut out for him.

Militant labour, extortion, local opposition, arbitrary government policies, red tape, corruption, power cuts and bandas are just some of the factors deterring investors. Hydropower, where the need for investment is most acute, faces extortion, strikes and violent local opposition.

According to a recent UNCTAD survey, Nepal is eighth from the bottom in investment climate. The good news, perhaps, is that there is nowhere to go but up.

Bye-bye NTY, hello NIY, PAAVAN MATHEMA
Happy Nepal Investment Year 2012-13

One window for investors

Investing in the future, SIDDHANT RAJ PANDEY
Foreign direct investment is essential next year and beyond to boost economy and create jobs

1. M Cotton

One recals the Old Testament story of 7 lean years followed by 7 fat years. Alas, with tourism, it would appear that the Nepal case is 20 lean years and 2 fat years...if one is very lucky! All the cards are stacked against investment - yes, the facility is there to repatriate dividends but to do so is a bureaucratic nightmare. Visas for working directors are, once more, an annual charade (with the ending of the sensible 5 year visas) - most countries attracting foreign investment make the process simple....not Nepal. The repetition and duplication of "required documentation", the inability to mail annual reprot and accounts to the Company Registrar's Office - I delivered our company's personally and got the stamp on our file copy - and then had to pay a fine as they were not in our company file.....we pay taxes and have to do the work of the designated officials too!

M Cotton

Managing Director

TM (P) Ltd.

Posted on: 05 JAN 2012 | 6:18 PM NST