Finance Minister Mahat Urges British Businessmen to Invest Confidently in Nepal

Kathmandu: Finance Minister Dr. Prakasharan Mahat has asked for investment in Nepal’s renewable energy on behalf of the UK.

Finance Minister Mahat made this request during a meeting between Baroness Penn, the Lords Minister of the Treasury of the United Kingdom (UK), at the Ministry of Finance in London. He reminded that Britain is a major development partner country of Nepal and requested to provide long-term financial resources for green energy.

Likewise, Minister Mahat has also requested to further increase the investment made in Nepal for climate change mitigation on behalf of the UK.

Treasury Minister Penn said that the UK has been supporting the economic development of Nepal and will continue to do so. He expressed his commitment to support Nepal in the field of green finance and said that he would encourage the British private sector to increase investment in Nepal’s green energy sector. Nepali Ambassador to UK Gyan Chandra Acharya and Deputy Head of Mission Roshan Khanal also participated in the meeting.

Minister Mahat, who went to London to participate in the high-level conference on investment to be held by the Nepali Embassy in London, participated in the interaction program on long-term financial options for the development of renewable energy in Nepal held on Monday in collaboration with the Nepali Embassy and the Dolma Foundation. At the same time, he mentioned that the government of Nepal will guarantee the security of foreign investments and informed that the government of Nepal is working towards simplifying the process of repatriation of dividends by foreign investors.

Mahat also informed that the process of country credit rating of the country has been started to improve the investment environment. Tim Gotcher of the Dolma Foundation and Christopher Markus of the Japanese bank MUFG offered their views on corporate green bonds.

Similarly, Adil Ansari of Standard Chartered Bank expressed his views on Sovereign Bonds and the newly elected Lord Mayor Prof. Michael Menally on Policy Performance Bonds. Ambassador Acharya urged the investors to invest confidently as Nepal is a fertile land for investment.