PM CALLS FOR INCREASED INVESTMENT Kathmandu, 4 Oct.: Prime Minister Dr. Baburam Bhattarai has said that incumbent government is focused in increasing investment which is needed for prosperous nation, RSS reports. Speaking at a program organised by the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) and hosted by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the prime minister said through public private partnership, the government will work together in achieving both the goals of enhanced economy and maximized returns respectively. "We are indeed striving for an economic revolution and I believe that the private sector, with possession of its managerial, financial, and technical expertise, is the best catalyst to move this agenda forward," the PM said. The prime minister said that significant achievements have been made towards the completion of the peace process with the integration of the Maoist army into the Nepal Army. The prime minister expressed the confidence that they will soon come to agreement on the remaining vital aspects of the constitution, through a democratically elected constituent assembly. "It is now time that we graduate our focus, redefine our priorities, and put economic strategies and reform in the forefront. We are keen to work with you and invite you to explore opportunities in Nepal, invest in Nepal, and assure you that we are here to support and assist you in every way possible," said the PM. Dr. Bhattarai said it was important to recognize that in every challenge, there lies an opportunity that is yet to be explored. "An opportunity, that is yet to be unfolded. An opportunity, that is yet to be tackled. And this conference is a way of expressing our commitment to exploring those opportunities collectively as a region, and building linkages to actually transform those challenges into opportunities", he said. The PM said as a nation, we are optimistic and outward looking and very much ready to take advantage of the global economic platform by strengthening our engagements with our regional partners. "We have formulated policies and strategies to restore confidence among our investors and that best serves their interests. We have recently taken several measures to make Nepal a promising investment destination for private investors. Establishment of the Nepal Investment Board by the Parliament through the Investment Board Act 2011 is a reflection of our serious commitment in this regard". The PM informed that the government recognizes Public-Private Partnership (PPP) as an important approach for development, and the Investment Board is an authoritative body that will make use of the PPP approach in bringing private investments into Nepal. He said the Investment Board was currently working hard to fast-track mega infrastructural projects, to fine tune policies, to identify projects, to facilitate and provide efficient investors services through a one-window mechanism. "Agreements we have in place, such as Bilateral Investment Promotion and Protection Agreement (BIPPA) and DTAA (Double Taxation Avoidance Agreement), with various nations indicate our reform focused policy initiative and we look forward to such agreements with many more nations in the near future," the PM said. The prime minister welcomed industrialists to explore opportunities to invest in Nepal, assuring them needed help from the government and re-orientation of policies to serve the best interest of the investors. "My government will embrace policy change suggestions made by the private sector that are certain to have long term positive impact", he said. PM's Economic Advisor Rameswor Khanal urged to invest in Nepal while mentioning that there are enough investment opportunities including in hydro power, tourism, physical infrastructure, agriculture, health, education, mines, mine related industries, and IT. At the program presided over by FNCCI Chairman Suraj Baidya, NRN's former president Upendra Mahato and telecommunications multinational Ncell Nepal Chief Tommi Holopainen said that return will be guaranteed if investment is made by taking local industrialists into confidence. nnnn BANDH CLOSES DOWN FAR-WEST Kathmandu, 4 Oct.: Life in Far-West has been affected due to the bandh called by the youths in favour of undivided far-west, RSS reports from Dhangadi.. People in favour of undivided far-west halted works at government offices and obstructed movement of government vehicles today as a protest to the statement made by Deputy Prime Minister and Minister for Home Affairs, Bijay Kumar Gachchhadar at a gathering held in Phoolbari of Kailali district on Tuesday. Service recipients visiting the government offices have been hit hard due to stoppage of work in the offices. People in favour of far-west have been demonstrating at different places from morning. Deputy Prime Minister Gachchhadar on Tuesday had expressed the opinion that Kailali and Kanchanpur districts should be kept in Tharuhat state and that the undivided far-west with Kailali and Kanchanpur will not be acceptable to him. People in favour of far-west said that they have been compelled to launch agitation again as a protest to the statement of DPM Gachchhadar which they said will create tensions between people in favour of Tharuhat and the far-west. nnnn