KATHMANDU, Jan 22: Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel has said that the government is ready for reforms at the policy level to further systematize the inflow of remittances.
In his virtual address at a program titled ‘Remittances and Investment in Nepal’ organized by the US-based Overseas Nepali Forum on Saturday night, the finance minister said the government was ready to create an enabling environment for promote legal channels for the entry of remittances and the productive sector.
The finance minister said, “We have not been able to receive a large part of the remittances through official channels and the government is ready to take steps to promote these channels.” He presented an idea to use remittances in the productive sector and for job creation.
Stating that the government’s attention has been drawn to the concerns of the citizenship issue raised by non-resident Nepalis, he said, “Constitutional provision on citizenship will be implemented for non-resident Nepalis with socio-economic rights.” .
Stating that he was aware of the Foreign Investment and Technology Act that considered non-resident Nepalis as foreign nationals, he pledged to address this issue. The Finance Minister said that attention has also been drawn to the issue of NRNs who require obtaining a visa while coming to Nepal and hopes that this issue will be resolved with the resolution of the citizenship issue.
“NRNs abroad have made a great contribution to the economic development of Nepal and this will be more effective in the coming days,” Finance Minister Poudel said, expressing confidence that each and every NRN and Nepalese who they live and work abroad would play a constructive role. role as goodwill ambassador of Nepal to promote foreign investment besides sending remittances.
Reiterating that Nepal is a safe investment destination and also a place with good return prospects, he urged the NRNs to share this message among investors worldwide.
The program participants emphasized that remittances have played an important role in the national economy. They suggested emphasizing agriculture, tourism, energy, infrastructure, human resources, industrialization, service sector, social security, among the sectors to boost Nepal’s economy.
