Members of Parliament (MPs) have taken exception to the Axiata CEO’s statement that Nepal has no environment conducive for foreign investment.
MP Biraj Bhakta Shrestha said (that) the statement coming from any companies that there is no environment for foreign investment in Nepal is objectionable and should be taken seriously.
Similarly, lawmaker Ganga Karki objected to Ncell’s recent controversial statement saying that such kind of statement will discourage foreign investments into Nepal.
Issuing a statement on November 29, Vivek Sood, the CEO of Axiata Group, said that that there is no conducive environment for foreign investment in Nepal.
“The outlook in Nepal is increasingly challenging, thus the Board has decided to exit Nepal and accordingly reclassify Ncell as asset held for sale,” reads the press note.
Nepali Congress MP Deepak Khadka said the government employees are not only to blame since the transactions of shares were carried out by taking advantage of existing legal loopholes. Objecting to the statement of Axiata that Nepal lacks the environment for investment, Khadka said the Nepal’s economy slipped into the hands of mafias owing to the legal loopholes in Nepal.
Axiata Group CEO Vivek Sood should be summoned to the Financial Committee of the Parliament and grilled over taking ‘son and wife of leaders’ on a tour to Singapore, said MP Swarnim Wagle, adding that such kind of conduct aggravates the environment for foreign environment.
