Pant told a investment promotion seminar in Kathmandu Friday that the commitment was expressed during his recent trip to Japan.[break]
Japan provides ODA in terms of bilateral aid, in which assistance is given directly to developing countries, and multilateral aid, which is provided through international organizations, the website of Japan International Cooperation Agency (JICA) says. Nepal has been denied this assistance since 2001 through which around 50 projects, ranging from energy, communications, transportation and hydropower to health, education, agriculture and drinking water were implemented.
“Japan stopped providing ODA due to fear of unpredictable political situation in Nepal. And it cannot be extended until there is improvement in the political climate,” Kunio Takahashi, Japanese ambassador to Nepal, told a seminar on investment promotion held in Kathmandu on Friday.
Citing fluid political situation as one of the primary reasons that was stalling entry of foreign investment in Nepal, the Japanese ambassador urged all to work toward building a political consensus. “This could unleash imaginations, ideas and recommendations to attract foreign investors to Nepal,” he said.
Renowned Japanese Professor Ryokichi Hirono of Seikei University, who was a keynote speaker at the event said every country that strives to attract foreign investment should focus on four key areas of ensuring political and policy stability, raising investment in human capital, formulating sound government policies for private sector, building efficient and clean bureaucracy.
“Although liberal international trading regime is also necessary to lure foreign investment, this is sometimes beyond any country´s reach to change,” the professor said.
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