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Kathmandu,Friday January 21, 2000 Magh 07th, 2056.
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Nepal should ensure UK investors of its
potential: Shepherd
-By a Post Reporter
KATHMANDU, Jan 20 - Nepal needs to ensure to
the investors that it has substantial market for their products, by making the Indian
market more accessible. It was said by British Deputy Under Secretary John Shepherd.
The high level British envoy is in the
country from yesterday on a five-day visit to launch partnership in trade between these
two countries. Shepherd was talking today to a group of journalists following his meetings
with the Prime Minister and other key ministers.
He talked about the objectives of his visit
and his impression on the investment environment in the country.
Shepherd said Nepal has a huge potentiality
in hydropower and other indigenous items. “But it is not upon the government to
harness the hydropower, but private sector should be made aware of the potentiality of the
country, and they should come forward,” he said.
When Nepal is talking about the big
hydropower projects, it has to be able to assure big companies of their investment, and
how practical opportunity the country has stored for themselves, he observed.
In this same regard, Shepherd is hopeful
that the planned visit of the Minister will play a significant role to persuade the
investors in the United Kingdom.
When Nepal is trying to lure foreign
investment, it should be noticed that Britain is the second largest source for direct
investment globally. “In order to attract British investors, Nepal needs to carry out
a significant marketing effort. Nepal Britain Chamber of Commerce and Industry (NBCCI) can
play a major role in this task,” he added.
If Nepal wishes to export its products
abroad, it needs to understand that Britain is a gateway to Europe. “Exporting is,
however, not easy without links. UK is an open market, so quality products can really
sustain in our market,” he added.
Commenting on the experiences of British
investor in Nepal, he said he hasn’t interacted with any British investor in Nepal.
However, he added, “All have an impression that Nepal needs to further simplify its
export to India, and exploit the huge market of its Southern neighbour.”
Shepherd suggested Nepalese press that it
should not always bring negative stories about obstacles in industrial environment. “Sometimes
a smaller issue raised can cause big concern for the investors,” he said.
According to Shepherd, the decision of the
British government to increase pensions and facilities of British Gurkhas has really
provided a solution to at least an issue of contention between these two countries.
“I believe we can concentrate more on
the enhancement on trade relations between our two friendly neighbours,” he
concluded.
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