Govt readies portal to lure FDI

In a bid to help foreign investors interested to put their money in Nepal, the government is soon launching a portal that will have information about government policies, country´s investment climate and features of major projects, among others.
The government in partnership with the private sector is showcasing eight sectors -- hydropower, tourism, manufacturing, agriculture, mines and minerals, service, information and communication technology and infrastructure development - through the portal (www.investnepal.gov.np), aiming to lure foreign investment in those areas.
According to officials, the portal will be a window for foreign investors to know about Nepal, its investment climate, investment procedures, visa process, policies, laws, and acts including different surveys and treaties and agreements signed by Nepal with other countries.
“The portal will be formally launched at the end of this month,” said Chhabindra Parajuli, under secretary at Ministry of Industry (MoI). “The Invest Nepal portal serves as a single authorized information source for policies governing foreign direct investment and other business related information.”
The ministry is developing the portal with the assistance of United State Agency for International Development (USAID). According to Parajuli, there will be a dedicated help desk to provide additional information to interested foreign investors. Confederation of Nepalese Industries (CNI), an umbrella organization of the local industrialists, will host the help desk.
Providing information on FDI, sector specific information and playing a role of a facilitator among investors, government agencies and the private sector are few of the specific objectives of the help desk, reads the yet to be launched web portal.
Potential investors can also ask for specific information about Nepal from the help desk. “The help desk will provide information and features of the particular projects as well,” Mahendra Neupane, executive director of CNI, said. “Foreign investors won´t need to travel all the way to Nepal just to know the basic pre-investment environment and policies.”
The reference centre is also expected to be helpful in attracting foreign investment as it will go online ahead of the launch of the much touted Investment Year 2012/13.