London: Ambassador of Nepal to the United Kingdom, Gyan Chandra Acharya, has said Nepal is a viable destination for foreign investment.

Addressing a gala dinner organised by the Britain Nepal Chamber of Commerce (BNCC) in London on Friday, Ambassador Acharya said Nepal has made significant progress in terms of ease of doing business compared to other South Asian countries. He urged British businessmen to invest in Nepal in the areas including hydropower, tourism and information technology. Saying that Nepal-UK relations are multidimensional and multifaceted, Ambassador Acharya called upon entrepreneurs to support Nepal’s tourism industry and economy, while fostering stronger people-to-people ties.

Chief executive of BNCC, Richard Pelly , said that Nepal-UK trade stood at £147 million in 2022. He urged the Nepal government to remove bureaucratic hurdles to attract foreign investment. He urged both the governments to sign the double taxation avoidance agreement.

Former cabinet minister and Member of British Parliament, Dean Russell, commended the efforts of the BNCC in promoting trade and investment between the two countries. He also expressed his admiration for the contributions of Nepali entrepreneurs to the UK economy, emphasizing their valuable role in fostering bilateral economic relations.

Dr. Kapil Rijal, Chairman of the BNCC, said that in addition to promoting investments and supporting entrepreneurs and startups, the BNCC is committed to facilitating knowledge exchange and skill transfer in Nepal, ultimately contributing to the country’s overall development.

The program was hosted by Biraj Bhatta, Vice Chair of the BNCC. A noted Nepali singer, Sapan Rai, also performed during the event.

The gala dinner provided a platform for networking and fostering stronger ties between the business communities of Nepal and the UK.