Govt launches info portal to lure foreign investors

The government has launched a new information portal ´Invest Nepal´ in a bid to attract and facilitate potential foreign investors to put their money in Nepal.
The portal which was launched last week has information on government´s policies, country´s investment climate and features of major projects in different areas such as hydropower, mining, tourism and agriculture.
The government in partnership with the Confederation of Nepalese Industries (CNI) has showcased eight sectors -- hydropower, tourism, manufacturing, agriculture, mines and minerals, information technology and infrastructure development -- through the portal (www.investnepal.gov.np) aiming to lure foreign investment in these areas.
Highlighting the major policies, the portal also provides information on government´s priorities on the development front. "The Invest Nepal portal serves as a single authorized source of information on government´s policies governing foreign direct investment (FDI) and other business related information," Krishna Gayawali, secretary at the Ministry of Industry (MoI) said. "We believe this portal will be useful, particularly in the context of the Investment Year."
The portal provides detailed information on investment procedures, visa process, policies, laws and acts including different survey results and treaties and agreements signed by Nepal with other countries.
According to a highly placed official, MoI developed the portal with assistance from the United States Agency for International Development (USAID)´s NEAT program. "The CNI is currently hosting the help desk of Invest Nepal portal," reads the press statement issued by CNI after formal launching of the portal.
"The help desk will provide information about features of certain projects as well," an official at CNI said. "Foreign investors won´t have to travel all the way to Nepal just to know the basic pre-investment environment and policies." Potential investors can also ask for specific information about Nepal from the help desk.
The newly launched portal also aims to provide information on FDI, sector specific information and play the role of a facilitator among investors, government and the private sector.The portal 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.
Despite the government´s multiple efforts, the commitment for FDI inflow in the country has gone down by 30 percent during the fiscal year 2012/13 compared to a year earlier.