Nepal Purbadhar

सोमवार, बैशाख ३, २०८१
Monday, April 15, 2024

सोमवार, बैशाख ३, २०८१
Monday, April 15, 2024

Investment opportunities for Chinese investors

The People’s Republic of China and Nepal have long-standing and solid ties. Nepal-China economic cooperation dates back centuries-long and it is strengthened more after the formalization of bilateral relations in the 1950s. Since then the first “Agreement between China and Nepal on Economic Aid” was signed in October 1956. In the middle of the 1980s, the Chinese government pledged to grant support to the Nepal government as part of the Economic and Technological Cooperation Program in order to carry out development initiatives. We are happy to note that both countries are enjoying excellent bilateral ties.

China has been a key development partner of Nepal. The Chinese financial and technical assistance to Nepal has greatly contributed to Nepal’s development efforts in the areas of infrastructure, industrialization, human resources development, health, education, water resources, cultural cooperation, tourism, sports, and many more.

The Confederation of Nepalese Industries (CNI) is an apex body and an umbrella organization of service and manufacturing industries of Nepal. The CNI is established with the core vision of working for the economic growth and industrialization of the country positioning the private sector as the partner for prosperity.

The CNI and China Council for the Promotion of International Trade (CCPIT) have a long and impactful partnership. Through this remarkable partnership, the CCPIT now brings more than 60 business delegates and investors. This meet is aimed to strengthen the mutual relationship and establish new business contacts for the benefit of both countries. On this special occasion, we want to appreciate the role of H.E. Ambassador and Embassy of the People’s Republic of China in Nepal in making it possible.

China has been a key development partner of Nepal. The Chinese financial and technical assistance to Nepal has greatly contributed to Nepal’s development efforts in the areas of infrastructure, industrialization, human resources development, health, education, water resources, cultural cooperation, tourism, sports, and many more.

Before COVID, China has been the second largest source of foreign tourists to Nepal and the most rapidly growing source market. We thank China for recently adding Nepal as the approved destination for Chinese outbound tours effective from tomorrow. And we are also expecting a sound and quick bounce back in tourism from China. Again, a big thanks to H.E. and the Government of China for making this happen.

Nepal has tremendous opportunities in the area of Manufacturing, Industries, Tourism, Transport, Medicinal and Aromatic Plants (MAP) Hydropower, IT and in many other sectors.

The partnership with China in the areas of trade, transit, and investment is a matter of utmost importance to Nepal. In addition, the growing trade deficit is becoming a challenge for Nepal. It is unlikely that the trade balance between the two countries will be achieved immediately. However, it can be reduced. We are also looking for Chinese investment for that. Although there are various success stories of Chinese investments in Industries in Nepal like Hogshi, Huaxin Cements we would like more Chinese entrepreneurs to come to Nepal in the industrial and service sector and take advantage of opportunities.

Upper Trishuli Hydropower Project- Power station and Transmission Line Projects, Arniko Highway Long–Term Opening Maintenance Project Phase III,  Kathmandu Ring Road Improvement Project (Phase I), Solar Energy in Singha Durbar, Post–Disaster Recovery for Tatopani Frontier Inspection Station Project, International Sports Centre Reconstruction Project (Satdobato) along with other projects are the successfully completed projects. Pokhara International Airport is recently opened for operation. Kathmandu Ring Road Improvement Project (Phase II), Ratmate-Rasuwagadhi-Kerung 400 KV Transmission Line Project, Narayanghat-Butwal Road, and some other projects are ongoing. We would like to see many more projects that helps to Nepal’s economic prosperity.

Nepal has tremendous opportunities in the area of Manufacturing, Industries, Tourism, Transport, Medicinal and Aromatic Plants (MAP) Hydropower, IT and in many other sectors. Today’s program has given the opportunity to bring business communities from both countries together in our business forum, we will be discussing on these opportunities in depth.

The CNI has been working together with the government, and other private sector associations for the economic development of Nepal. As infrastructure is an important basis for development, the CNI has been conducting important programs such as infrastructure summits for policy reforms and initiatives to expand investment in the infrastructure sector. The fourth edition of the Nepal Infrastructure Summit concluded recently in Kathmandu in collaboration with the Government of Nepal.

The CNI is also spearheading the Make in Nepal Campaign in collaboration with the Government of Nepal to ensure high quality, latest technology and reasonable price products and service in Nepal. The products with Swadeshi Logo will give the guarantee on the above attributes.

The CNI has a very vibrant and energetic youth and women entrepreneur’s wing – CNI Young Entrepreneur’s Forum (CNIYEF) and Women Leadership Forum. CNI YEF has taken lead in Startups by doing a startup fest and establishing an incubation center for promoting innovation and entrepreneurship. We are happy to host an investment and business forum along with our partner- the CCPIT.

The private sector of Nepal is encouraged with the Prime Minister’s top priority on the economic development of Nepal. I warmly invite Chinese investors to invest in these multiple potential sectors in Nepal.

(This article is based on views expressed by CNN’s President Agarwal at Nepal China Business Forum 2023)

 

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