Saturday, June 1, 2013

Finance Minister asks EU to invest in infrastructure

Finance minister Shankar Koirala has asked the European Union (EU) to invest in infrastructure in Nepal.
Addressing a trade expo organised by the European Economic Chamber (EEC) - Nepal, here, he said that prominent European banks are interested in investing in hydropower in Nepal. "European countries should invest in tourism, agriculture and infrastructure," he said, adding that the budget for the next fiscal year will help create an investment climate by creating a business friendly environment.
"The government will bring the Foreign Investment and Technology Transfer Policy and Foreign Investment and Technology Transfer Act to encourage foreign investors," the minister added.
Representatives of the chamber, on the occasion, asked the government to bring a private sector friendly budget.
Meanwhile, four European banks have shown interest in investing in hydropower in Nepal. Complaining on the delay of the Lower Solu Hydropower, they also asked the government to expedite the construction of transmission lines.

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