PM Oli invites UAE investment in hydro, assures Investment friendly environment

mantriKATHMANDU, May 10 (Nepal Foreign Affairs)– Minister of Foreign Affairs and International Cooperation of United Arab Emirates (UAE) Sheikh Abdullah on Tuesday called on Prime Minister K.P. Sharma Oli at the latter’s official residence Baluwatar.

During the meeting, a number of issues regarding the bilateral ties between the two countries  were discussed. According to Gopal Khanal, Foreign Affairs Expert of Prime Minister, Minister Abdullah congratulated Nepal government on successful promulgation of the new Constitution last year.

”Nepal has an immense potential of harnessing hydro-power and promoting tourism. Nepal has to move forward exploiting such rich resources” he said. Minister Abdullah also said that the UAE government is ready to sign the two agreements- Bilateral Promotion and Protection of Investment and Agreement on Avoidance of Double Taxation- which are under discussion between the two governments.

The UAE Minister visited Kathmandu on a one-day visit to establish the residential embassy in Nepal. Diplomatic relations between Nepal and UAE  were established on 22 Jan 1977. Nepal opened its embassy on 11 April 2004 in Abu Dhabi.

Responding Minister, Prime Minister Oli urged the UAE government to invest in Nepal including hydropower assuring investment friendly environment in Nepal. ”We want to work together in hydropower. For that  we have investment friendly environment. Anything there to simply the law, we will do that” Prime Minister assured.

Appreciating the UAE government and people for extending the emergency response in the post earthquake situation, Prime Minister Oli urged for the continuous support at this crucial juncture of history.

Prime Minister also requested the UAE government to give clemency to Amar Bahadur Bum, a Nepalese national who has been sentenced to death by the Dubai Court on 14 Oct 2003. Bum was accused of killing of an Indian national who was said to be a member of a criminal gang.





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