Myanma businessmen show interest in investing in Nepal

Kathmandu, Aug. 9: A business delegation from Myanmar on Thursday indicated towards the possibility of Myanma investment in Nepal’s hydro and solar energy.

“Myanma investors can invest in energy sector. There is a possibility of increased economic exchanges between Nepal and Myanmar,” said the delegation leader U Ko Ko Latt at a meeting with the Nepali business community at the Confederation of Nepalese Industries (CNI).

He said that the continuity of direct flight of Himalaya Airlines to Myanmar would contribute to more Myanma tourist arrival in Nepal.

About 25, 000 Myanma tourists visit Lumbini every year.

Latt said that the crucial changes in Myanmar’s political and economic landscape had inspired industrial and business development in the country so they were encouraged to forge bilateral business relations with Nepal.

CNI President Hari Bhakta Sharma said that the though the bilateral friendly relations between the two countries was established in 1960, there were no significant achievement in terms of economic relations.

“We are hopeful that the two countries would be together in investment and tourism promotion and international trade,” he said.

According to him, there is a great potential of bilateral cooperation between the two countries in food procession, education specially medical and engineering, and tourism sector.

Nepal is witnessing trade deficit with Myanmar.

“Nepal exported goods worth Rs. 4.4 million and imported goods of Rs. 1.64 billion from Myanmar in 2015/16. Woolen carpets, tea, coffee can be the priority goods for export there,” said Sharma.

The Myanma delegation also hold a meeting with the Nepal Chamber of Commerce (NCC) on the same day.

In the meeting, NCC President Rajesh Kazi Shrestha urged the visiting businessmen to invest in agriculture, tourism and energy sector in Nepal.

Published in The Rising Nepal daily on 10 August 2018.