New Government to restructure investment policy soon: Prachanda

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Bangalore, Sept 17 (UNI) New Government in Nepal will go for structural changes in its trade policies to woo investors from foreign countries and especially from India, Nepal Prime Minister Pushpa Kamal Dahal, Prachanda, said today.

Speaking at a 'Luncheon meeting' hosted by the Confederation of Indian Industries (CII) here, the Nepal Prime Minister said that the Himalayan country, which had witnessed a political revolution recently has embarked upon to usher a 'Economic Revolution' for the overall development of Nepal.

He said that after achieving the installation of popular and new democratic republic through peaceful transformation after great deal of struggle now we are committed to go for Economic revolution.

He said that his government is working towards restoring sustainable peace, inclusive development and new Constitution will be put in place within two years.

Remembering close tie between two Himalayan neighbours India and Nepal enjoying for many centuries, Mr Prachanda said that his government was committed to play as a 'catalyst' to further the bond for the benefit of the people of the both the countries by enhancing bilateral relationship.

Promising to create a sustainable and forward looking trade atmosphere in his hilly nation which had witnessed a 'Decade of Conflicts' prior to his government, Mr Prachanda said that there is tremendous potential for Indian entrepreneurs to invest in rich source of Hydal power, tourism, education, IT and infrastructure sectors.

Calling upon the private players in both Nepal and India Mr Prachanda said that "they can work together to reap mutual benefits". "You can see a radical change in our approach and policies towards investment" he said.

Announcing that he is going to constitute a high-level Foreign Investment Board under his Chairmanship and simplify the procedure for allowing more flow of foreign Equity into his country.

UNI MV MSP SKB1551

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