Nepal Bankers Association holds discussion on foreign investment and monetary policy

KATHMANDU: The Nepal Bankers Association (NBA) organized a program to discuss matters related to foreign investment and monetary policy. The discussion included a review of the Monetary Policy for the fiscal year 2023-24 and its implementation, with a particular focus on its impact on foreign investment.

The program, jointly organized by NBA and the USAID Trade and Competitiveness, aimed to address concerns raised by stakeholders regarding the ability to attract foreign investment into the country. Participants in the program, including representatives from various sectors, expressed their demand for a centralized approach from the Nepal Rastra Bank to facilitate foreign investment.

Sunil KC, President of NBA, highlighted the importance of attracting significant investments to meet the economic development goals of Nepal and fulfill the commitment made in the international arena. He emphasized the need for a well-structured mechanism to bring foreign investments into the country efficiently.

In the program, former Secretary Shishir Kumar Dhungana shed light on the efforts made regarding policy implementation related to foreign investment. He discussed various aspects such as the process for obtaining foreign investment, the utilization and procedure of foreign facilities, and the diverse aspects of investment.

In the course of the discussion, Mahesh Acharya, the joint-secretary of the Ministry of Finance, reassured that the  government is committed to the subject of foreign investment. He emphasized the need for mutual understanding and cooperation to make this commitment effective.

Deputy Governor Bam Bahadur Mishra of the Nepal Rastra Bank addressed the program, translating policy directives and emphasizing how banks can utilize foreign facilities. He revealed that banks have been using foreign facilities, and their capabilities and technological expertise play a crucial role in this process.

The program concluded with Santosh Koirala, Vice-Chairman of NBA, expressing satisfaction with the fruitful discussion on crucial topics related to monetary policy and foreign investment. The presence of executives from the Nepal Rastra Bank, executives from various governmental and non-governmental entities, and banking professionals made the program highly informative and beneficial for all participants.