As, at this specific juncture of her history; economic wellbeing is crucial, Nepal is now committed to achieve steady economic growth in order to help improve the general living standards of her population. To achieve this objective, Nepal needs foreign investment, technology as well as skills. To create conducive environment for Foreign Direct Investment, Nepal has already enacted a number of legislations including the Competition Act, Insolvency Act, New Company Act, Cyber Act, Foreign Investment and Technology Transfer Act (FITTA), besides being a party to the World Bank promoted Multilateral Investment Guarantee Agency (MIGA). These arrangements are aimed at promoting and protecting Foreign Investment (FDI) in Nepal and facilitate repatriation of investors’ profit.

Perhaps many of you know that Nepal has one of the most liberal foreign investment regimes in the whole of South Asia region, in the form of favourable environment for businesses and foreign investors. The Government of Nepal granted permission to 1431 foreign investment projects in 2008 alone with the total project cost of Nepali Rs. 114.24 billion. Likewise, in fiscal year 2009/10, the government gave approval for the incorporation of 171 joint venture projects with foreign investment equivalent to Nepali Rs. 9.1 billion. In addition, the government has, of late, set up a national Investment Board to facilitate foreign investors and has also declared year 2012 and 2013 as the Nepal Investment Year; again, with a view to promote foreign investment into different priority sectors.

It is imperative to say, distinguished Ladies and Gentlemen; that Nepal is an attractive investment destination not just due to its policy measures and her untapped abundant natural resources but also because of her strategic location between the two soaring economies of the world i. e. China and India. Nepal’s location offers an ideal setting for foreign investors interested to do business in these countries since Nepali products enjoy an easy access to these big markets. Given China and India’s regional and intra-regional initiatives to connect neighbours through railways and Asian Highways; and share prosperity in the region, Nepal’s location undeniably proffers strategic value to the international investors. Moreover, availability of English speaking yet comparatively cheap labour force and expanding facilities of the Information Technology (IT), make the Himalayan nation much more investment-friendly land. Needless to say here that Nepal herself is a good market for foreign goods and services as some six million people, belonging to the middle and higher income groups, have spending capacity of about seven billion GBP per annum.

With this backdrop, distinguished Ladies and Gentlemen; I am delighted to host the launching of the Dolma Impact Fund, as the first such event during the Nepal Investment Year in the United Kingdom.

The Dolma Impact Fund, as I understand, embraces the new spirit of commerce, combined with the goal of alleviating poverty. We are honoured that this team of internationally-renowned experts in finance, business, politics and academia; is committed to promote private international capital to help more businesses in Nepal. I am sure it’s going to be a win-win proposition for both of us.

On behalf of the Nepalese embassy, I would like to assure every possible help to your endeavours in the future. I would also like to register my sincere appreciation and thanks to all those involved with the Dolma Development Fund for supporting education, health and other sectors in remote parts of Nepal, and yet in partnership with local communities, over the last nine years.

Last- but not the least, I would, once again, like to thank you all for being with us here this evening.