TOKYO:- The ‘Diaspora Investment Company’ has been established with the aim of developing Nepal’s economy through collective investment by Nepali expatriates living abroad.

The company has recently been duly registered with the Companies Registrar of Nepal, informed Robin Sherchan, the company’s director and senior vice president of NRNA.

Sherchan informed that a program was held in Japan on Sunday focusing on the objectives, investment areas, and prospects of the same company.

Welcoming the participants, Sherchan informed that there will be collective investment of Nepalis living abroad in the company.

Speaking at the event, Mahesh Kumar Shrestha, chairman of the same company, said that the goal is to pool the small capital of non-resident Nepalis and invest in large and prestigious projects.

The program informed that the company will focus its investment mainly on hydropower, tourism, agriculture, and infrastructure. Similarly, it was informed that the concept of collective investment will be implemented in a transparent manner, which will ensure low risk and guaranteed returns.

The program was attended by a significant number of Nepalis from various sectors, intellectuals and ordinary people living in Japan. The participants welcomed the concept of collective investment and inquired about the security of investment and government policies.

Some businessmen participating in the program also expressed their commitment to partner in projects of national pride through collective investment.

Sherchan said that this company is expected to act as a reliable bridge in a situation where remittances have a large contribution to Nepal’s economy, but they have not been able to be used in the productive sector.