Insight NEPAL
“The minister told us that he was studying about the closure. But he assured us that he would keep in mind the workers’ concerns,” he said: “Nepal’s casinos ran for more than four decades without any rules and regulations. But once the government introduced the laws, instead of promoting the industry, it stifled the business.”
When the casinos may reopen is unclear, especially in light of recent developments with Casino Royale.
On September 26, the Supreme Court issued an interim order to allow the reopening of Casino Royale. The Casino Royale’s earlier attempt at the comeback had hit a snag after it failed to deposit the paid up capital.
However, mid-November police raided the premises and closed the casino again, creating further confusion over the situation in the Himalayan Kingdom.
Umakant Parajuli, joint secretary of the Ministry of Culture, Tourism and Civil Aviation told local media the Casino Royale had not renewed its license in line with the new Casino Regulation introduced earlier in 2014.
"The Supreme Court did not advise casinos to resume operation without renewing license," Parajuli was quoted as saying. He said this was the reason that led to the request by the home ministry to close the operations.
This year, Nepal’s tourism sector has been dealt one blow after another, with natural disasters striking the Himalayan nation. In April this year, an avalanche struck Mount Everest, killing 16 Nepali high altitude workers. While in early October, blizzards and snowstorms on Annapurna Circuit, a popular trekking trail in central Nepal, killed more than 40 trekkers and local guides.
While the tourism industry was marred by crises, both natural and man made, Bhim Acharya, the tourism minister was dismissed from his job.
On September 14, the coalition government appointed Deepak Chandra Amatya as the minister for tourism and civil aviation. One of his first actions was to inaugurate a new Department of Tourism, replacing the mountaineering industry division, which also oversaw casinos.
Tulasi Prasad Gautam, the director general of the Department of Tourism, commented that the government was keen on reviving the casino business.
5 0
“We have received green signals from the finance ministry on the amendment of the regulations. We want to ensure that Nepal’s casino operators run the business in a comfortable environment. I am optimistic the business will resume soon,” Gautam said adding that the officials were holding discussions on how to address the operators’ concerns.
“Casino is a part of the whole tourism industry. So, our ministry has taken this issue seriously. We would amend the regulations so that the vital foreign currency and tourists it generates is not lost,” he added.
However, the government could do more to spur investment in the industry, they say. Bhatta of the CAN cited the example of Sri Lanka where the
government has given a 10 year tax holiday to lure foreign investors.
There has so far only been a trickle of foreign investment into Nepal, with Sikkim -based Casino Mahjong, which owes 266.80 million rupees in dues to the government, applying to reopen its casino in Kathmandu. Similarly, Happy World Private Limited, a Kathmandu- based firm, whose foreign investor is Hong Kong -based Silver Heritage Group, has applied to operate Casino Shangri La.
“Many more foreign investors, particularly Indians (because they consist of the major bulk of clients), would like to invest [in casinos] in Nepal. But the government must to be supportive to the business,” Mr. Bhatta said.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92