Asian Development Bank (ADB) (South, Central and West Asia) Vice President, Yingming Yang, has pointed out that Nepal needs to improve three major things for an investment-friendly environment.
According to Yang, the main challenges in Nepal are land acquisition, environmental and social assessment, and the environment to easily take returns.
Addressing the opening session of the 3rd International Investment Summit in Kathmandu on Sunday, he indicated that Nepal needs to improve on these issues.
He said, “The main challenge in Nepal is land acquisition, environmental and social assessment, and the environment to be able to carry the returns without hassles.”
The government is also amending 10 laws through ordinances to address these issues. Out of which, President Ramchandra Paudel today issued an ordinance to amend some Nepal Acts related to investment facilitation.
Vice President Yang said that ADB is working with the government in Nepal in cooperation with international donor agencies. He said that ADB is helping to create a roadmap for the public private partnership sector.
Participating in the investment summit, Yang highlighted ADB's comprehensive support for Nepal, encompassing climate-friendly investments, policy development programs, the design of investment products, and the provision of technical assistance.
