Imran Mojib, Special Correspondent

The UAE and Nepal share decades old diplomatic ties but the two countries have not yet achieved the optimum advantage, the bilateral relations offer to investors, said Deputy Prime Minister and Defense Minister of Nepal Ishwar Pokharel.

Addressing Nepalese businessmen and UAE-based investors at a dinner reception, hosted jointly by the Embassy of Nepal in Abu Dhabi and the Nepalese Business Council Dubai, the leader said that Nepal is a virgin land as far as foreign investment is considered. He said that the country has vast potential for investment in hydropower, agriculture, tourism, service, and industrial sectors.

He recalled that Nepal and the UAE had established diplomatic relations in 1977.

Today, over 250,000 Nepalis are in the UAE and contributing to the economies of Nepal and UAE. It is time to take the bilateral relations to another level.

“Investors can explore and utilise the opportunities available in Nepal and ultimately contribute to enhance trade ties between the UAE and Nepal,” he said, adding that the Government of Nepal is committed to help investors establish industries as well as other business set up, easily and smoothly.  He said that tourism is yet another sector offering immense potential of growth as Nepal offers significant opportunities to tour operators.  He said that the special tourism campaigns have been launched as part of the Visit Nepal Year 2020.

Tour operators must explore the opportunity and make the event a success.

Earlier, Nepali Business Council Dubai Chairman Dr Asif Ali Siddiqui offered full support to the prospective investors and stressed that Nepal is geographically located in an advantageous place because its immediate neighbours India and China offer huge market.