Nepal's cement producers recommend barring FDIs

Nepal’s cement producers have recommended barring foreign direct investments (FDI) in the sector during a discussion with Matrika Prasad Yadav, the Minister for Industry, Commerce and Supplies, according to The Rising Nepal.

"We will have become self-reliant in cement and by the end of 2020, we will have product surplus. Bringing in more FDI in large cement industry will be suicidal for the existing businesses and the newcomers as well," said Dhruba Thapa, president of the CMA.

However, the Investment Board of Nepal (IBN), the facilitating agency for large-sized FDI, has stated that it would not be possible to bar foreign investment in any industry in the country, including cement.

Maha Prasad Adhikari, CEO of the IBN, said that FDI for the cement sector will be open until the domestic product becomes competitive in international markets in terms of quality and price. Mr Adhikari noted that market and demand will decide whether we had enough investment.