Congress President and former Prime Minister Sher Bahadur Deuba has said that almost all areas of Nepal are open for foreign investment.

In the opening ceremony of the third investment conference which started in Kathmandu from today  Former Prime Minister Deuba mentioned that sectors such as agriculture, tourism, infrastructure development, mining and minerals, production, hydropower and information technology are open for investment. 

He, who is also the leader of the main opposition party, expressed the opinion that the discussions held at the summit and the various cooperation and partnerships exchanged during the summit will pave the way for more investment flow in Nepal. 'Nepal is still a less developed country. We are facing big challenges of development. Our country has a lot of potential for development, but we lack sufficient capital and appropriate technology to get the benefits of development,' said Chairman Deuba, 'in this context, the organization of this high-level program is of particular importance.'

He mentioned that the Congress initiated economic reforms in Nepal and in 1990, the Congress government liberalized the economy, invited the private sector and created a favorable environment for foreign investment. "In that short period of time, our government restructured policies, revised old laws and introduced new laws, rationalized public spending and introduced a liberal tax system," he said. 

President Deuba informed that Nepal's investment regime is now liberal in terms of areas open for foreign investment, tax policy and return of income. Informing that foreign investment is protected by Nepalese laws and various international treaties to which our country is a party, he said that the government is willing to sign bilateral investment protection agreements with various countries to promote Nepal as an attractive investment destination.

'Flexible labor laws, demographic dividend with a sufficient share of young and energetic population, reliable supply of electricity, availability of local raw materials also contribute to lower production costs compared to other high-wage countries in the region,' Chairman Deuba said. - We have established a one-door system that includes the investment board under the industry department for large projects under private partnership and other small and medium-sized investment projects.