Kathmandu— Nepal’s Finance Minister Dr. Swarnim Wagle has called on Nepali citizens living abroad to confidently invest in their home country, citing new government policies designed to foster a more favorable investment climate and generate employment opportunities. The appeal was made via video message to the 11th Asia-Pacific Conference of the Non-Resident Nepali Association (NRNA) held Saturday in Guangzhou, China, with Dr. Wagle highlighting sectors like tourism, IT, green energy, and import substitution as prime areas for investment. He emphasized that the government is actively implementing reforms aimed at attracting both domestic and international capital to drive economic growth.

Government Reforms Aimed at Attracting Investment

Minister Wagle stated that the government has introduced 27 new laws through the recent fiscal budget specifically designed to create an investment-friendly environment. These efforts also include reforms to the tax system, intended to increase government revenue and support sustainable economic development. He described the first year of implementation as laying the groundwork for broader changes, with tangible results expected in the third and fourth years.

Focus on Domestic Resources and Diaspora Capital

Recognizing challenges in securing external investment, Dr. Wagle stressed the importance of domestic resources and the unique role of the Nepali diaspora. He noted that mobilizing capital from non-resident Nepalis was a key commitment outlined in the Rastriya Swatantra Party’s election manifesto, leading to specific government initiatives. “We started the reforms in the first year, and broader reforms will be carried out in the second year,” he said. The minister also highlighted recent amendments to regulations increasing share allocations for diaspora investment funds.

Opportunities in Key Sectors

The Finance Minister specifically encouraged investment in tourism, information technology, green energy, and high-value agriculture, with a particular emphasis on sectors that can reduce Nepal’s reliance on imports. He also mentioned the government's plan to revitalize struggling industries, offering opportunities for skilled Nepalis abroad to participate in their revival and management.

The Finance Minister reiterated his call for diaspora engagement, urging them to contribute both capital and expertise to support Nepal’s economic transformation as the country continues its path of reform.

(With inputs from RN)

Originally published on abcnews.com.np.