Hyundai Motor Assembling Plant launched in Nawalparasi

NL Today

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Kathmandu: Prime Minister Pushpa Kamal Dahal ‘Prachanda’ and Unsoo Kim, Managing Director of Hyundai Motor India Ltd, have jointly inaugurated the Hyundai Motor Assembling Plant in Nawalparasi on Friday.

“The country’s economy cannot be made robust without the investment of the private sector and the collaboration between the State and the private sector. The productivity cannot be increased and employment opportunities also cannot be created without this,” PM Prachanda said, adding that the government is always in support of creating a climate conducive to investment, promoting the private sector and security and facilitation in the investment areas.     

Expressing the belief that the domestic and foreign investors would be attracted more towards the industry-friendly environment in Nepal with the operation of this new industry, he said import would be substituted and hundreds of skilled and semi-skilled labourers will get jobs along with industrialization.     

The Prime Minister opined that that the consumers could buy vehicles at fair prices and a positive contribution would be there in consumption of domestic resources and electricity, a partnership in the local development and on the GDP as well when the motor assembling is done within the country itself.     

“Our fiscal and monetary policies should be promotional, rather than restrictive. These policies and laws should contribute to the production and employment promotion,” he said. The PM further said the domestic and external indicators of the economy are positive due to the consistent efforts of the government.     

“The Third Investment Summit has concluded only recently. The government has amended important Acts, bringing an ordinance on the eve of the Summit. This will play a key role in addressing the problems seen in the investment sector and also in encouraging and promoting internal and external investment,” he added.     

The plant, established by Laxmi Motor Corporation in partnership with Hyundai, is expected to assemble up to 4,500 cars a year, the Company said.

General Manager of Laxmi Intercontinetal, Dipak Thapaliya, said that the new plant would provide direct employment to nearly 200 people. He said that the plan had a target of assembling up to 8,000 vehicles a year in the future.