Japanese ambassador to Nepal Masashi Ogawa has said that Nepal should improve transit and transport facility and sign bi-lateral investment promotion and protection agreement (BIPPA) to attract investment from Japan.

Japanese ambassador Ogawa made this remark while meeting with Confederation of Nepalese Industries (CNI) at CNI office.

Japanese Ogawa said: “Nepal has been making its effort toward creating conducive business environment in the country.” He also said the Nepali private sector should utilize their business relations with business people of foreign land to attract investment.

According to CNI, the CNI President Narendra Basnyat told the ambassador that Nepal was expecting more investment from Japan instead of aid. "The signing of Power Trade Agreement (PTA) with India has paved the way for hydropower development in Nepal which is one of the lucrative sectors for investment,” Basnyat said in the meeting.

Vice presidents Satish Moor and Manoj Kediya and members of governing council -- Bijaya Shah and Yogeshwor Lal Shrestha -- were also present in the meeting.