Chaudhary Urges Foreigners To Invest In Nepal

Chaudhary Urges Foreigners To Invest In Nepal

Nov. 8, 2014, 5:45 p.m. Published in Magazine Issue: Vol: 08 No. -10 November. 7- 2014 (Kartik 21, 2071)

Binod Chaudhary, President of Chaudhary Group, has called on the international business leaders to invest in Nepal while stressing that there is a high return in Nepal with minor risks.

“Although some see Nepal as a risky investment destination, things have changed and it has started to attract foreign investors in various sectors,” said Chaudhary, speaking at the ´Forbes Global CEO Conference´ in Singapore.

"Investors can reap good benefits in Nepal as they are doing in Sri Lanka," added Chaudhary. Doing business is easy in developed countries but returns are low there, but in Nepal high returns are certain, said Chaudhary, suggesting the investors not to miss the opportunity to invest in hydropower in Nepal.

"With the recent signing of the Power Trade Agreement (PTA) between Nepal and India, Nepali energy has a huge market in India, therefore, it is high time to invest in Nepal to tap the hydropower potential and earn profits," said Chaudhary.

He also informed the gathering about the project development agreement signed by the government of Nepal with GMR to develop Upper Tamakoshi (900 MW) of US$ 1.5 billion as an example of favorable industrial environment.

He also said other PDAs for large-scale hydropower projects are expected soon. The function was attended by CEOs of several reputed companies from Singapore, Malaysia, Myanmar and Indonesia, among others. Chaudhary is the only Nepali billionaire listed by Forbes.

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