03/03/2017, 14.16
NEPAL
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International investors in Kathmandu: Funds in exchange for political stability

by Christopher Sharma

"Nepal Investment Summit 2017" underway, strongly supported by the local government initiative. More than 250 investors from around the world are discussing the fight against poverty, crime control and the growing Islamic terrorism. Continuous changes at the top do not create favorable conditions for funding; pockets of poverty are reservoir for the recruitment of extremists.

 

Kathmandu (AsiaNews) - The economy needs political stability. This is the message sent to the authorities in Kathmandu from over 250 international investors gathered to discuss investment, poverty reduction and crime control and the growing Islamic terrorism.

The 'Nepal Investment Summit 2017 " is underway in the capital, strongly supported by the local government initiative. The two day summit ends today. Participants includemany leading members of the world economy, such as Arun Jailey Indian minister of Finance, and Jin Liqun, president of the Asian Infrastructure Investment Bank. They have all stressed that the necessary condition for economic funding is a strong and stable leadership.

No obvious fact for Nepal: after centuries of Hindu monarchy, political forces are trying to build a democratic country, while weak cabinets delay recovery and development after the earthquake of April 25, 2015.

Investors - companies and individuals - are from India, China, Bangladesh, Sri Lanka, Singapore, Hong Kong, Malaysia, the United States, Russia and Canada. The Summit was opened by Prime Minister Pushpa Kamal Dahal, who spoke about the fight against poverty and how this can become fertile ground for the recruitment of young people without hope by terrorists.

"Poverty - he said - throws seeds for fundamentalism and terrorism. Nepal has many resources, but little capacity to invest on them. " Therefore, he added, "it is inevitable to seek the support of foreign direct investments that create economic prosperity and ensure peace and social solidarity." For his part, he assured, "the government will make every effort to create a favorable environment for investors."

The Indian minister Jaitley admitted that the Himalayan country "has huge economic opportunities, natural resources and tourist sites that could attract numerous investments." However, he stressed, "we need reforms and stability. We want to see a strong Nepal, which has a positive impact on India and on the entire region. Foreigners will be attracted to a lasting fiscal policy, better infrastructure and certainty in politics ".

The reference is to the continuous changes at the top in the last year, after the authorities approved the first secular and democratic Constitution, and delays in the reconstruction after the violent earthquake that caused more than 8 thousand victims.

Leaders of the opposition are committed to creating a climate of collaboration. Sher Bahadur Deuba, president of Nepali Congress, is certain that the Nepalese territory offers potential areas for development.

Khadga Prasad Sharma Oli, former prime minister and head of the Communist Party of Nepal (Unified Marxist-Leninist), is committed to fostering an "environment available to finance."

Finally Ram Sharan Mahat, former Finance Minister, stressed that the government has already implemented economic liberalization because of the restoration of a democratic regime. "Help us to improve the lives of people - he said - because then poverty no longer be a basin for terrorism."

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