Nepal seeks investments from Indian companies

Excerpt: Nepal's Finance Minister Yuvraj Khatiwada urged Indian companies to invest in Nepal owing to the existing political stability that can pave way for perfect atmosphere of business growth.

Nepal's Finance Minister Yuvraj Khatiwada on Thursday urged more Indian companies to invest in the Himalayan nation owing to the existing political stability that can pave way for perfect atmosphere of business growth. Speaking at the closing ceremony of the two-day Nepal-India Franchise Investment Expo and Conclave, Kathiwada also sought from Nepal's youth to venture their own business by forging franchise collaboration with the renowned companies of India instead of searching employment opportunities in foreign countries.

"There is a big scope for investment in the country from both domestic as well as foreign investors with the country attaining political stability," Kathiwada said at the event which primarily focused on building the relations between India and Nepal through entrepreneurship development. The event was organised by the Indian embassy here in collaboration with the Federation of Nepalese Chamber of Commerce and Industries and was attended by over 12 Industries and trading companies from both sides.

Calling for more Indian companies to invest in Nepal, Kathiwada said: "I welcome franchise partnership from Indian companies. We can learn a lot from them". Present during the occasion, Indian Ambassador to Nepal Manjeev Singh Puri, also underlined the need of more collaborations between Nepalese and Indian companies for mutual benefits. Meanwhile, Nepali nationals wishing to fly out to any other country via India would require a No Objection Certificate (NOC) from the Nepalese Embassy in New Delhi for clearance from the Indian immigration, according to a notice issued by the police here. The applicants need to submit an application letter to the Nepali Embassy stating the reason of travel along with the visa of that country, a copy of passport, air ticket and past travel history except India. Those going abroad for employment purposes need to furnish an employment permit issued by the department of foreign employment, police said, quoting a statement issued by the Nepali embassy in New Delhi. Nepali students and entrepreneurs based in India would require to furnish documents related to their professions along with other documents to obtain NOC prior to travelling abroad via New Delhi, the Himalayan Times reported

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