Date: 14 October 2018
Investment of Nepali diaspora for economic growth of Nepal is accelerating every year. Diaspora population is actively investing in hydropower, hospitality, information technology, banking, health and education sectors. These investments are happening despite some unfriendly investment policies and taxation system. In order to attract more financial and human capitals for investment, Nepal.s financial policies need to be revamped. In this session, we will discuss how investment environment for Nepali diaspora can be made conducive by improving on existing legal and administrative structures of the financial system of Nepal.
(Focus: Foreign Direct Investment, Portfolio Investments, Investment Policies, Financial Reforms, Fiscal Policies, Repatriation)
Background: The home of mountains, sheltering the world’s tallest peak Mount Everest, along with birthplace of light of Asia Siddhartha Gautama Buddha is the typical introduction to NEPAL. The home of eight out of tenth tallest mountains in the world, filled with plenty of medicinal herbs, 2nd richest country in the world in terms of water reservoirs with an installed capacity of 48,000 MW hydropower electricity potential, equipped with enormous natural beauties, and all-time favorable climate, nevertheless the country has failed to attract enormous foreign direct investments (FDIs) and thereby Nepal still remains one of the poorest countries in the world.
Nepal started undergoing reforms in the 1990s once multi-party democracy returned after 30 years. The government introduced a ‘one window policy’ whereby the Department of Industries was designated as the sole agency for all FDI related work. The flow of inward FDI was at peak during mid-1990’s however thereafter it declined due to armed conflict faced by the country. However, as the decade-long armed conflict ended, the new constitution was promulgated, and elections are successful conducted, Nepal is creating a peaceful and investment friendly environment for the investors (either domestic, foreign or NRNs). Although the investments are accelerating, the growth rate is not satisfactory and therefore, this session will highlight and recommend constructive policies so as to enhance large inflows of such investments.
There is a saying that finance without strategy is just numbers and strategy without finance is just dreaming. In other words, to kick off any projects, the investments are imperative and that is exactly the case we are facing in terms of project development in Nepal. Domestic investment in Nepal is not enough to realize double digit growth rates in order to achieve the target of becoming a middle-income country by 2030. This is where the foreign and NRNs investments will play a big role towards overall economic development for the country.
In order to accelerate investments, the Government of Nepal has to introduce changes on its policies, rules and regulations to create more new and attractive opportunities and further create conducive environment for both foreign and diaspora investments.
Themes: This symposium will explore how we can attract more FDI, Portfolio Investments, Diaspora Investments and Human Capital Investments. The theme of this session will be
Contact Information of Symposium Coordinators:
Ranjeet Mahato, FCCA, MBA, CITA, CertIoD, PhD candidate (firstname.lastname@example.org)
Mr. Keshab Basnet, Acting Director at Nepal Rastra Bank – Central Bank of Nepal (email@example.com)
|Symposium 5: Financial Policy and Investment
14 October 2018, 16:00-18:10, Marva Hall
|Chair: Bhabani Rana, Moderator: Keshab KC|
|Invited||Bhisma Raj Dhungana||Remittance and repatriation||Executive Director, Nepal Rastra Bankfirstname.lastname@example.org|
|Contributed||Ranjeet Mahato||Role of NRNs for FDI and joining Nepal into world's economy||Neapolis University Paphos, Cyprusemail@example.com|
|Contributed||Abhaya Poudel||FDI in Nepal, complication and way forward||Reanda Biz Serve, Kathmandu, Nepalfirstname.lastname@example.org|
|Contributed||Sunil Paudel||Foreign investment through capital market in Nepal: avenues, challenges and solution||Portfolio Manager / Analyst, National Merchant Banker email@example.com|
|Contributed||LN Pandey||Improving reliability of the public financial system||Director, Asmita & Associates Ltd, London, UKfirstname.lastname@example.org|
|Rapd Fire||Sristi Tandukar||Analysis of climate finance||World Renew Nepalemail@example.com|
|Rapd Fire||Dila Kharel||One NCC one project one employment||Innovative Associates, Sydney, Australiafirstname.lastname@example.org|
|Panel Discussion and Q/A||Anal Raj Bhattarai||Ex-CEO, Sanima Bank and Businessmanemail@example.com|
|Mahesh Shrestha||City Expresss Group, Japanfirstname.lastname@example.org|
|Maha Prasad Adhikari||CEO, Nepal Investment Boardemail@example.com|
|Rajendra Khetan||President, Nepal Britain Chamber of Commerce||rk@Khetan.com.np|
|Summary||Bhabani Rana||FNCCI, Presidentfirstname.lastname@example.org|