President of Chaudhary Group, Binod Chaudhary, has invited the international business community to invest in Nepal. Stating that Nepal is a country of great prospects, he said this is the opportune time to invest in Nepal.
Giving remarks on ‘Potentials of Frontier Markets in Asia’ at the G-1 Global Conference organized by Japan’s Globis University in Tokyo on Sunday, Chaudhary said Nepal and the Asian Frontier markets are being developed as attractive investment destinations.
Despite some initial complexities, international investors get high returns to investment in Nepal, Chaudhary remarked. “The possibilities are endless. The success of multinational investors in Nepal like Unilever, Dabur and Standard Chartered are few examples to consider.”
“Nepal and the Asian Frontier countries such as Bangladesh, Pakistan, Sri Lanka, and Vietnam are coming to the fore as new possibilities of the 21st Century,” Chaudhary said. “Sizable population, young generation with innovative thoughts, low wage rate, and incentives like low corporate taxes are some of the factors that attract international investors to this region.”
Predicting that the coming age will be the age of Asia in the global business, Chaudhary said that the returns to investment are much higher in the Frontier countries than in the developed countries.
“Despite the fact that we need to reform on many fronts, the returns to foreign investment are very higher here,” he said.
Stating that 60 percent of the world population lived in Asia, Chaudhary said the Asian market occupied a special place in the global scene.
The International Finance Corporation introduced the concept of Frontier nations in 1992. This comprises of countries that are more developed than the least-developed countries, but less developed than the developing or emerging countries. Countries like Bangladesh, Pakistan, Sri Lanka, Vietnam fall under this category in Asia.
“There are great prospects in the Frontier countries. Based on the Chaudhary Group’s experience in nine Frontier countries, I can say that they welcome foreign investment, respect investors, and ensure that their political commitment to provide investment-friendly environment is fully observed.”
Stating that risk and returns come together, Chaudhary said that there could be some entry barriers when the risk is high. “But those who make the first move reap the greatest benefits. As the first entrants, they are at an advantage to create an environment in their favor.”
The University allotted special time to Chaudhary to highlight the rehabilitation efforts in Nepal after the mega earthquake on April 25. The Chaudhary Group is building 10,000 transitional homes and 100 school buildings under its ‘CG Ashraya’ and ‘CG Shikshyalaya’ projects. Giving high recognition to his contributions, Forbes magazine has put Chaudhary on the cover of the September issue of Forbes Asia.