Legal provision made for more investment

April 20, 2000
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Kathmandu, Apr. 20):Minister for   Industry, Commerce and Supplies Ramkrishna Tamrakar has said that private investment of Britain is expected for industrial development, export promotion and improvement of the national economy.

In a brief chat with RSS, Minister Tamrakar referred to the encouragement and promotion of foreign principles for economic development as mentioned in the directive principle of the Constitution of the Kingdom of Nepal and said that legal provision had also been made for the protection and promotion of foreign investment after pursuing the open and liberal economic policy after the restoration of democracy.

He called upon the  British government to extend cooperation to Nepal for development of technology, industrialisation, infrastructure development, trade and commerce.

Minister Tamrakar informed that Nepalese and British private sectors had established 16 industries while the British multi-national companies had set up seven industries in Nepal.

Mr Tamrakar said that foreign investment had been attracted in Nepal because of unrestricted access of Nepalese goods into India, the possibility for exporting Nepalese  goods to Tibet autonomous region and transit facility through Bangladesh.