 "Nepal finance ministry releases handbook for prospective Indian investors")
Nepal Finance Minister Barsha Man Pun on Monday released a handbook for Indian investors keen on exploring more business opportunities in the Himalayan nation.
Published by the Nepal India Chamber of Commerce and Industries (NICCI), the handbook released on the sidelines of the Nepal Investment Summit 2024 consists of insights into rules, regulations, taxation, investment climate, intellectual property rights, and investment procedures for prospective investors looking to engage with Nepal's market.
According to the website of the Indian Embassy in Nepal, India is the largest source of investment into the Himalayan nation, accounting for more than 32 per cent of the total FDI stock of Nepal, which is worth nearly USD 520 million, as per NRB data until mid-2020.
There are about 150 Indian ventures operating in Nepal engaged in manufacturing, services (banking, insurance, dry port, education and telecom), power sector and tourism industries. Indian companies and investments have played a key role in Nepal's national economic journey by contributing to industrialization, employment generation, government revenue and export earnings.
The two-day summit, which concluded on Monday, also witnessed the signing of four bilateral agreements, including one with an Indian company, to foster economic cooperation.
The Federation of Nepalese Chamber of Commerce (FNCCI) and the National Chamber of Commerce and Industry of Malaysia (NCCIM) on Sunday signed a bilateral agreement to explore trade and investment opportunities.
Nepal's Bhuramal Lunkarandas Conglomerate (BLC), a division of the Chaudhary Group, and India's Yotta Data Services Pvt Ltd signed an agreement for the establishment and operation of a Data Centre in Nepal, highlighting cross-border collaboration in technological infrastructure.
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On Monday, two more MoUs were signed in the presence of Finance Minister Pun. The Nepalese Association of Public-Private Partnership (NAPPP) and the World Association of PPP units and PPP Professionals (WAPPP) entered into an MoU to foster knowledge exchange and promote international best practices in public-private partnerships within Nepal.
Similarly, Nepal's Saakha & Co Pvt Ltd signed an MoU with China's BOAR Group of Hotel for investment in the hotel business.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)