Kathmandu, January 15
Amid the government’s attempt to lure foreign investors and investment in Nepal, frequent attacks witnessed by firms and projects with share of overseas companies have raised concerns about security of foreign direct investment (FDI) in the country.
Whether offices and infrastructure of telecom firm Ncell being targeted in the recent months or attacks on Upper Karnali Hydropower Project and Arun III Hydropower site last year, such incidents discourage foreign investors from coming to Nepal, as per experts.
Moreover, they opined that failure to ensure security to FDI projects will directly affect FDI flow into Nepal, which will ultimately affect various development goals of the country.
“Investors are highly sensitive and they take attacks on FDI or domestic projects very seriously. As investment security is the first thing that an investor looks for, it is the responsibility of all to ensure that investment and investors in Nepal are secured,” said Maha Prasad Adhikari, chief executive officer of Investment Board Nepal (IBN).
In the recent months, various unidentified groups have been attacking infrastructure of Ncell in different parts of the country, which has not only caused financial losses worth millions of rupees but also resulted in disturbance of essential telecom services being provided by the company. Nearly 20 towers of Ncell in 15 districts have reportedly been attacked over the period of last two weeks. Moreover, an explosion in front of the Ncell head office at Nakkhu, Lalitpur in February last year had killed one and left two others injured.
On Tuesday, the Nepal Telecommunications Authority (NTA) — the telecom sector regulator — also issued a notice urging related government agencie