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By Walter Jayawardhana

The Nepali Ambassador in London Murari Raj Sharma said the strong political stability created in Katmandu by the former rebels turning rulers has created an extremely friendly atmosphere for direct foreign investments in his country of scenic Himalayan beauty which has just emerged a republic ending a centuries long monarchy.

“With the Maoists embracing direct foreign investments and private enterprise as effective methods of development in Nepal just like in the Indian state of West Bengal and in the People’s Republic of China unprecedented opportunities are opening up in the Himalayan state not only in traditional industries like tourism but also in hundreds of other ventures like building hydroelectric power stations to sell electricity to both India and China,” Sharma said addressing the press at the Nepalese Embassy at the Kensington Palace Gardens in Central London to promote the upcoming Nepal Fair on September 21 and 22 2008. The Nepal Fair will be held at Limkokwing University at 106, Piccadilly, London.

Sharma said this is the first time such promotion for investment is being hailed by a London Fair of 18 stalls and added the country is having lucrative opportunities to invest not only in hydropower and tourism but also for manufacturing and services. He said investor friendly rules and foreign exchange regime ,investment protection and capital repatriation guarantees, inexpensive labour force and the balmy climatic conditions should become strong attractions for investors to start projects in Nepal.

He said while Nepal was stagnant caught up in a raging rebellion the country’s neighbours like China and India were galloping with a rapid development. Nepal has just emerged from the turmoil. The country’s tourism rose to 500,000 last year it would rise up further this year he said. Earlier, he said, the landlocked country’s trade was mostly with India only. Now the country has started diversifying its trade. Indo –Nepalese trade has come down to les than 60 per cent now and hundreds of new commodities and countries are now being added to the list , the ambassador said.

He said three hydropower projects will be launched very soon. Arun 3 and upper karandi were mentioned as the latest developments in the field.

Due to the rapid development, India and both China will be needing lot of energy very soon and that could readily come from the private sector energy projects the Nepali government is now inviting foreigners to invest in. He said already many Indian companies have shown great interest to invest in these projects.

The ambassador said capital could also be invested in the infrastructure development projects like Katmandu- Hetaud tunnel , or the Mid Hill Highway which are on the drawing boards or diversified agricultural development projects.

He said there are opportunities to build colleges and universities and also hospitals. Calling the Nepalese stock market as bullish the ambassador also said the foreign capitalists could invest their money, building banks and insurance companies.

Stunning natural beauty with the majestic Himalayas and panoramic rolling hills and verdant plains challenging expedition to eight out of ten tallest mountains in the world makes Nepal one of the most inviting tourist attractions in the world, Sharma said. Exciting trekking and hiking trails , eco-tourism, adventure sports , photographing 400 species of animals and 800 species of birds could become attractions of that industry , he said.

Alan Hinkes , the only Briton who has climbed all the highest mountains in the world surrounding Nepal: Everest, K-2, Kanchenjunga, Lhotse, Makalu, Cho Oyu, Dhaula Giri, Manaslu, Nanga Parbat, Annapurna, Gasherbum 1, Broad Peak, Shisa Pangma and Gasherbum 2 was also featured at the press conference to tell the great opportunities for the tourist industry in the country. “At over 8000 meters these are the most dangerous mountains on the planet…Alan is part of an exclusive club of only 12 people who have achieved this feat- which is the same number of people who have stood on the moon,” the Nepali embassy said

He said there are great opportunities for paragliding too. Hinkes told this correspondent: “ Nepal is a fabulous country with great people and scenery. In many ways it is similar to Britain. Nepal has lots of potential for commerce, trade and tourism.”

For those who have no brave hearts like Alan Hinkes, ambassador Sharma had something else to offer than climbing the great peaks: “With reluctance I once took Secretary General Koffi Annan on a mountain flying trip. He later told me the panoramic view of the Himalayan range was one of the most stunning enticing and unforgettable things seen in his life.”

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