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Nepal Financial Forum on Banking, Investment and Remittance in Nepal was organised at the Nepali Embassy in London on Wednesday.
In the programme organised by the Britain Nepal Chamber of Commerce (BNCC), issues related to Nepal’s emerging banking system, importance of remittance to Nepal and its role in national economy, among others, were discussed.
Raja Ram Giri, director Samsara Nepal Financial Services UK (Associate Partner Kumari Bank, Nepal), made his presentation on the role being played by remittance in Nepal.
According to Nepal Rastra Bank, Nepal receives remittance worth Rs 120 billion every year from Nepalis living and working around the world, out of which around 82 million pound came from UK alone. Giri, however, estimated that the actual figure could be as high as �180 million pound every year.
Chairman of the BNCC, Anthony Wieler, said despite recent political instability, Nepal presented unrivalled opportunities for foreign investors especially in the areas of hydropower, horticulture, tourism , garments and many other infrastructure projects. He also called upon British investors to come forward to invest in Nepal with which Britain has nearly two-centuries-old relations.
Charge d’ Affairs at the Nepali embassy in London, Jhabindra P Aryal, welcomed the delegates and said that Nepal presented one of the best investment regimes for foreign investors. He said despite changes in the governments, successive Nepali administrations were committed to facilitate foreign investors in whatever way possible. He also called upon British investors and businessmen to contact the embassy if they needed any information or support.
Peter Fowler of the Cairn Energy, a leading British company, spoke about the petroleum exploration work his company was engaged in India and potential sites in Nepal. Richard Dewdney, deputy director for South Asia at the Department for International Development (DFID) said British government was working on to promote bilateral trade relations and support British businessmen who wanted to invest abroad including Nepal.
Representatives from around 50 leading British companies, Nepali businesses and organisations took part in the Forum.