Kathmandu, June 9: Finance Minister Dr. Swarnim Wagle has welcomed the entry of the international luxury hotel brand, the Ritz-Carlton, into Nepal.
Speaking during a meeting at the Ministry of Finance on Monday with Marriott International President David Marriott and executives from Nepal’s Chaudhary Group, Wagle said the arrival of the luxury brand was a positive development for the country.
The meeting came a day after the announcement that the Ritz-Carlton would be launched in Kathmandu’s Thamel area through a partnership between Chaudhary Group and Marriott International.
During the meeting, Wagle thanked Marriott for expanding its business in Nepal and helping position the country as a destination for some of the world’s wealthiest travelers.
He said the presence of the Ritz-Carlton could help Nepal attract billionaires and high-end tourists.
“Your new project announcement has generated fresh enthusiasm among investors. It has strengthened confidence in investing in Nepal and created the perception that wealthy travelers around the world can now consider the Ritz-Carlton in Nepal as a destination,” Wagle said. “This could take Nepal’s tourism industry to a new level.”
The finance minister said the new government was working to create a more investment-friendly environment and encouraged Marriott and the Ritz-Carlton to expand their operations beyond Kathmandu.
He also assured investors of the government’s full support in providing infrastructure and legal facilitation to protect and promote investment.
“The government is committed to safeguarding your investment. Developing the air and land transport infrastructure needed for business expansion remains one of our priorities,” he said. “You should continue promoting Nepal globally. I believe Nepal can now emerge as a destination for the world’s billionaires.”
At the meeting, David Marriott said Nepal is a world-class adventure destination and the home of the Himalayas, and that the Ritz-Carlton would help further promote the country in the international market.
Expressing happiness over the brand’s launch in Nepal, he also pledged to explore additional investment opportunities.
“Nepal has enormous tourism potential. As a globally renowned trekking destination and the land of the Himalayas, the presence of the Ritz-Carlton will send a positive message to travelers worldwide,” Marriott said.
Also present at the meeting, Rahul Chaudhary, Managing Director of CG Hospitality Holdings and CG Corp Global, said Nepal offers significant investment opportunities. He noted that investor confidence had grown following the formation of the new government and stressed the need for continued government support.
The meeting was also attended by Nirvana Chaudhary, Rajeev Menon, and representatives from the finance minister’s secretariat.
People’s News Monitoring Service
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