Diaspora Investment Company Established for Nepal's Economic Development

Japan. With the objective of developing Nepal's economy through the collective investment of Nepalis residing abroad, 'Diaspora Investment Company' has been established. The company has recently been formally registered in Nepal's Company Registrar's Office, informed Robin Sherchan, Director of the company and Senior Vice President of Non-Resident Nepali Association (NRNA). Sherchan informed that a program was recently held in Japan focusing on the objectives, investment areas, and potential of the company. Welcoming the participants, Sherchan informed that the company will have collective investment from Nepalis residing abroad. Speaking at the program, Mahesh Kumar Shrestha, Chairman of the same company, stated that the goal is to invest in large and prestigious projects by consolidating the small capital of non-resident Nepalis. At the program, it was informed that the company will primarily focus its investment in the sectors of hydropower, tourism, agriculture, and infrastructure. Similarly, it was also informed that since the concept of collective investment will be implemented in a transparent manner, the risk will be minimal and the return will be ensured. The program was attended by a significant number of businessmen, intellectuals, and general Nepalis from various sectors in Japan. Participants welcomed the concept of collective investment and inquired about investment security and government policies. Furthermore, some businessmen present at the program also expressed their commitment to participate in national pride projects through collective investment. Sherchan stated that while remittances contribute significantly to Nepal's economy, this company is expected to serve as a reliable bridge in a situation where it has not been possible to invest it in productive sectors.