Investment Board efforts to tap Japanese investment

Investment Board, an investment promotion arm of the government, has approached the Japanese government and investors hoping to attract investments in infrastructure development, mining and agro-businesses in the Investment Year 2012/13.
Radhesh Pant, CEO of the board who visited Japan last week in this connection, said the Japanese investors had shown keen interest to investment in various sectors, including mining and agro-businesses.
“In fact, a team of Government of Japan along with representatives from the private sector is visiting Nepal soon to explore and identify the spaces for investment,” Pant told Republica.
Pant was in Japan last week on invitation of the Japanese government.
During the visit, Pant met with senior government officials, private sector representatives and investors who were interested in investing their money in Nepal.
He briefed them about the new policy changes and priorities of the government, mainly highlighting the improvement of investment climate in the country.
“Japanese investors were keen to invest in areas like mining and minerals, hydropower, infrastructure development, tourism and agribusiness sectors,” Pant said.
With senior Japanese officials, Pant discussed issues like mutual cooperation and bilateral trade. He even requested for the review of Japanese government´s loan facility to Nepal.
“Pant met with Michihiko Kano, Minister of Agriculture, Forestry and Fisheries (MoAFF) of Japan, to discuss areas of mutual cooperation, financial and technical assistance that Japanese government and investors could provide to help Nepal harness its potential,” a statement issued by the board said.
Pant had meetings with representatives from organizations like, Japan External Trade Organization (JETRO), Japan Chamber of Commerce and Industries (JCCI) and Japan Foreign Trade Council (JFTC) among others.
He also interacted with Nepali Diaspora, appealing them to invest more in Nepal.
The government hopes to bring in foreign investment totalling US$ 1 billion during Investment Year 2012/13, and the board has been assigned to help materialize this target.