Nepal leadership must overcome fear of unknown to attract investment: FM Arun Jaitley

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Kathmandu | Updated: March 02, 2017 9:55 PM

Visiting Indian Finance Minister Arun Jaitley today called on the Nepal leadership to overcome the fear of the unknown if it wanted to attracted investment to the country.

Jaitley discussed bilateral relations, particularly bilateral investment projects during the meeting, according to a tweet by Deputy Chief of Mission at the Indian Embassy in Kathmandu Vinay Kumar. (Reuters)

Visiting Indian Finance Minister Arun Jaitley today called on the Nepal leadership to overcome the fear of the unknown if it wanted to attracted investment to the country. Jaitley conveyed this message to both President Bidhya Devi Bhandari and Prime Minister Pushpa Kamal Dahal when he called on them at their respective official residences on Thursday.  Jaitley is in Kathmandu to participate in the Nepal Investment Summit-2017.

During hsi interaction with Prime Minister Dahal at the latter’s Baluwatar residence, Jaitley said, “What should matter is construction of infrastructure and its contribution to economy, not who builds.”

This statement was seen in Nepal circles as Indian acceptance of increasing Chinese investment in Nepal.  Jaitley discussed bilateral relations, particularly bilateral investment projects during the meeting, according to a tweet by Deputy Chief of Mission at the Indian Embassy in Kathmandu Vinay Kumar.

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Jaitley also called on President Bidhya Devi Bhandari at her residence Shital Niwas.  Jaitley had earlier said India is committed to partner Nepal in her aspirations for growth while addressing the Nepal Investment Summit-2017.  He also expressed India’s commitment to invest in hydropower, connect Nepal to India’s rail network, irrigation, health and education sectors, transmission lines, roads and bridges and other sectors.

“Hard working people of Nepal and government’s policy framework are great opportunity for investment,” he added, reminding that bilateral relations between Nepal and India go beyond just being neighbours.

The two-day summit will feature over 250 investors from India, China, Bangladesh, Sri Lanka, Singapore, Hong Kong, Malaysia, America, Russia and Canada.

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