KATHMANDU, Oct 15: President Bidya Devi Bhandari has urged the non-resident Nepali (NRN) community to partner in the development process of their motherland and become part of the country's journey toward prosperity.
Addressing the inaugural session of the 8th NRN Global Conference and Non-resident Nepali Association (NRNA) International General Assembly in the capital on Saturday, President Bhandari also said that it was the right time that the NRN invested in Nepal.
“There is tremendous potential in Nepal in various sectors including hydropower, education, manufacturing and tourism, among others,” said President Bhandari: “This is the appropriate time for the NRNs to make contribution by bringing in investment, skill and technology.”
NRNs urged to invest knowledge and capital for motherland's pro...
She also lauded the support provided by the NRNs for relief and reconstruction in the aftermath of the 2015 earthquakes as well as in the recent flooding in the tarai region.
Also speaking at the inaugural session, Deputy Prime Minister and Minister for Foreign Affairs Krishna Bahadur Mahara said that NRNs have important roles in Nepal's development by bringing in investment, attracting tourists and exploring and expanding markets for trade abroad.
"The knowledge, skills and capital gained abroad should serve as the catalyst for Nepal's development," he added.
Bhawani Rana, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said that the time was ripe for investment in Nepal.
“The local elections have been held, load-shedding has come to an end, and there have been amendments in various laws including company act, labor act and social security act,” said FNCCI President Rana: “These developments have reduced the cost of doing business in the country. This is the right time for the investment.”
Shesh Ghale, the NRNA President, said that investing for the prosperity of Nepal by utilizing the hard-earned capital and skills abroad was one of the prime objectives NRNA, the umbrella of NRNs.
Former NRNA presidents Jiba Lamichhane, Devman Hirachan, and Upendra Mahato also underscored the role of NRNs for the economic development of the country.
Also speaking at a plenary session entitled "Nepal Vision 2030 and NRNA's Role" following the inaugural session, Swarnim Wagle, the vice chairman of National Planning Commission of Nepal, said that the country was now seeking a phenomenal growth in the NRNs' investment from the existing anecdotal and sporadic investments.
According to a 2015 survey commissioned by NRNA and carried out by Society of Economic Journalists-Nepal (Sejon), NRNs have invested a total of Rs 29.85 billion in nine districts and their 67 business ventures have generated employment to 8,276 people.
According to the survey, nearly three-fifth of NRNs' total investment in Nepal is in service sector. NRNA President Ghale said that the investment amount was far higher than the research report as investments were scattered in 75 districts of the country.
More than 2,000 delegates are participating in the conference that will run until Tuesday. The general convention will elect a new leadership for the NRNA for a two-year period. NRNA Vice President Bhaban Bhatta, NRNA International Coordination Council Member Jamuna Gurung and an advisor of NRNA, TB Karki, have announced their candidacies for the post of NRNA president.
