Nepal is very keen to woo Sri Lankan business ventures to be set up there, said the newly elected President of the Nepal Sri Lanka Business Council Jagath Savanadasa.
Speaking to Daily News Business’ he said that already several Sri Lankan investments have been done in the hospitality, road construction, power and energy and industrial sectors. “Lanka Transformers (LTL) in one of the biggest Sri Lanka investors in Nepal being involved in power generation projects.”
The Nepal government is keen to attract more FDI from Sri Lanka to Nepal and special incentives are being offered in this regard. Savanadasa also said Nepal has done several policy reforms to encourage foreign direct investments (FDI), and this is expected to play a catalyst role in attracting FDI to Nepal.
The Nepalese government last year set a two year target of attracting US$ 500 million FDI from Sri Lanka. He said that today Nepal has also become one of the biggest foreign contributors to the Sri Lanka workforce and they are mainly involved in the construction industry. One of the biggest advantages of Nepal workers is their productively.”
He however said that the despite Nepal offering free visa on arrival and being a Buddhist country religious tourism is very low. “This may be due to direct flights between the two countries been terminated.” (SS)
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