Infrastructure company to bring 1.2 million NRNs to Nepali capital market

Feb Fri 2021 08:34:37

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Infrastructure company to bring 1.2 million NRNs to Nepali capital market

The Government of Nepal has been making various efforts to bring in foreign investment for the development of Nepal's infrastructure. To facilitate foreign investment, the government has made loose provision in the law on foreign investment. Not only that, it has been taking initiative to attract foreign investment through non-resident Nepalis living abroad.

Now, the process of establishing a pre-existing company with the investment of the Government of Nepal has started. The Government of Nepal has committed to invest Rs. 500 million for that. Adding the investment commitment made by non-resident Nepalis, the amount has now reached Rs 1.70 billion.

At present, the Non-Resident Nepali Act provides for the rights of Nepalis living abroad in all forms except political. Article 13 of the Act has clearly raised this issue. This company takes the lead in implementing it. Investment is being made by non-resident Nepalis, not without it. Many projects including hydropower, bank, hospital, hotel have been operated in Nepal with the investment of big investors. But, these are just big investors. NRNs with small investments do not even get this opportunity. However, their participation in the development of the country is also essential.