KATHMANDU:- Nepal Government has proposed issuing an annual diaspora bond worth Rs 100 billion to non-resident Nepalis to invest in infrastructure development and export-oriented industries, granting them the status of Supreme Organic Investors.
The government has made this proposal while preparing a draft of the National Commitment Letter. The draft prepared for suggestions also states a commitment to ensure the continuity of citizenship, ancestral property, and voting rights of non-resident Nepalis by making constitutional and legal provisions.
The draft states that the knowledge, skills, and experience of Nepalis living abroad will be used as brain gain, ensuring that “once a Nepali, always a Nepali.”
It is mentioned that projects will be diversified in areas such as international sports cities, higher education research centers, specialized health services, cultural tourism, and others, and will be built on a fast-track model, attracting capital and knowledge from the diaspora.
“To encourage investment by Nepalis living abroad, a bilateral agreement will be made with countries with large Nepali populations to end double taxation,” the proposal states. There is also a proposal to bring a package for the diaspora to return to their homeland after retirement.