Private sector seeks more US investment

Private sector seeks more US investment

Private sector representatives today asked the former US president Jimmy Carter to help bring more investment into Nepal for the economic development. During a meeting with Carter, who is a on a six-day visit to observe the second Constituent Assembly (CA) election scheduled for November 19, they held and extensive discussion on foreign investment potentials, security and election. The business fraternity also apprised the former US president of Nepal Business Initiatives (NBI) – a non political private sector support group that is promoting fair business practice – and its help in introducing code of conduct for businesspeople and donation fund to start a transparent donation practice in the country. Federation of Nepalese Chambers of Commerce and Industry (FNCCI) president Suraj Vaidya, on the occasion, said that political stability is key to attract foreign investment. "Hydropower and tourism has huge potential for US investment in Nepal," he said, adding that end of general strikes and bandh is a must to attract investment. Likewise, general secretary of NBI Surendra Bir Malakar expressed concern over politics of intimidation and violence in the name of boycotting the CA election. Carter, who has arrived on a poll observation mission yesterday with former deputy prime minister of Thailand Surkiat Sathianthai, on the occasion, said that he was taking stock of the current economic situation and US investment in Nepal.
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