Stakeholders Discuss Investment-Friendly Environment in Gandaki Province

Pokhara. Stakeholders have discussed creating an investment-friendly environment in Gandaki Province. A provincial-level interaction was organized by the provincial government and the Investment Board. The discussion focused on potential collaboration between the Investment Board Nepal and the provincial government to make public-private partnerships effective and accelerate development projects. The Investment Board facilitated discussions on potential investment areas and models. However, most participants stated that it is not possible to attract investment due to legal hurdles from the federal government and impractical land acquisition processes. Mohan Singh Lalchan, Chairman of Mustang's Gharpajhong Rural Municipality, said, 'We have many plans to invest, but the local levels do not have the resources. Land in the entire district has not been surveyed; where should we tell investors to invest?' He added, 'With policy clarity and technical support, local levels can advance large projects in collaboration with the private sector.' Some businessmen also complained about the lack of certainty in returns after investing. Sanjeev Bahadur Koirala, founding president of the Federation of Nepalese Chambers of Commerce and Industry, Gandaki, suggested that the basis for return assurance should be established. 'The private sector is ready to invest, but there must be a basis for ensuring returns when advancing projects,' he said. 'When discussing investment, there is one policy, but by the time work progresses, another policy is formed. Even another law is made during project operation. How can investment be secure like this?' He also stated that the government should take initiatives to collect revenue from areas where investments have been made. Many local government representatives said that they are unable to encourage investors to invest with confidence due to the lack of delegated authority to the municipalities. Baishnav Neupane, Mayor of Byas Municipality, mentioned that investors raise questions about federal legal complexities. 'Nepal is currently in an emerging state in terms of investment. It would be good to facilitate investors through a one-door system from project identification to implementation in collaboration with the province and local levels,' he said. 'Unless authority is delegated to the local levels and administrative hassles are ended, the private sector will not invest with confidence.' Questions have been raised about the certainty of investment returns from public-private partnership projects previously operated in Gandaki. Specifically, businessmen are in a situation to withdraw from the Fewa Filtration Dam of Pokhara Metropolitan City. Similarly, effective work has not been done in waste management. Chief Minister Surendra Raj Pandey also stated that private sector investment is indispensable for development construction. However, he also admitted that legal and practical complexities in land acquisition are hindering investment. 'The provincial government has been working for years to build a provincial industrial area. Work has not been completed yet due to federal obstruction,' he said. 'Sometimes land acquisition, sometimes forest area hurdles. No one will come to invest facing so many problems. The federal government must amend this first.' Pandey stated that they are ready for the reforms that the province needs to undertake. Experts from the Investment Board presented working papers, providing information on strategies to attract the private sector by identifying available resources, means, and opportunities in the province and local levels. The Board has put forward plans to facilitate investors through a one-door system from project identification to implementation, attract foreign investment, and organize provincial investment conferences and roadshows. The discussion at the program included agendas such as developing a policy structure, strengthening the public-private partnership unit, establishing a one-door service center, and showcasing investable projects between the Investment Board and Gandaki Province.