No country has become unsafe by foreigners buying land or building houses. Through the next budget, arrange for foreigners to buy flats if not land.'
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Upendra Mahato, founder president of the Non-Resident Nepali Association, has complained that the government has given less importance to the 6 million non-resident Nepalis who act as a bridge between the private sector and foreign investors. He expressed his grief that non-resident Nepalis were not given a proper role in the recently concluded international investment conference.
During the 'Economic Summit 2024' organized by Kantipur Media Group on Sunday, Mahato requested not to treat non-resident Nepali as an institution. "Don't overshadow the campaign of non-resident Nepalis by watching the fight of hundreds of people," he said, "Non-resident Nepalis are not only sending remittances, but also want to invest in Nepal." But that has not been done .'
Mahato mentioned that even after three and a half years, the investment could not be brought in through the 'Nepal-NRN Development Fund', which has 10 percent of the government and 90 percent of non-resident Nepal. "There is a possibility of getting billions of dollars in this fund," he said, "even a person like me who has access to both the government and the media is not able to bring investment in it." The government says that it will bring investment, but it is difficult to complete the process when it goes to the agencies saying that it will bring it.'
President Mahato of NRNA has also given some suggestions to be included in the budget of the next financial year. Mainly, he suggested that the size of the budget should be small to facilitate revenue collection. Similarly, he said that when bringing in foreign investment, strict entry and easy exit policies should be adopted. "When foreign investment comes, you should tighten it, but don't make it a one-way road," he urged, "Investors have been complaining that it will be difficult to get out of here." Therefore, make it easy to leave and difficult to come.'
Mahato has also demanded the facility of allowing foreigners to buy flats or apartments in Nepal if not real estate. Citing countries like Cyprus, Morocco, Luxembourg, United Arab Emirates, he said, "No country has become unsafe by foreigners buying land or building houses." Through the upcoming budget, arrange for foreigners to buy flats if not land in the budget. Announce that you will get a 1/2/3 year visa for buying an apartment.'
