Govt gives equal opportunities to the investors: Yadav

Kathmandu, Sept. 26:

Minister for Industry, Commerce and Supply Matrika Prasad Yadav has said that the government was committed to give equal opportunity to the investors from around the world including from China.

Calling investors from China and other countries to invest in Nepal, Minister Yadav said that Nepal's investment climate in Nepal has been far better than most other countries.

"The government is ready to do whatever necessary to improve investment climate in Nepal," he said while speaking at a function organized by Xinhua News Agency, Kathmandu Bureau on the occasion of Chinese Mid-Autumn Festival also known as Moon Festival on Tuesday evening.

Answering to those who criticize 10-year long conflict behind economic backwardness of Nepal, he said that economic progress of the countries like Sri Lanka didn't stop due to conflict and it should not be cause of Nepal too.

"In fact, Nepal has culture of doing trading instead of entrepreneurship," he said emphasizing that such culture should be reversed. "We should give priority to industries and increasing domestic production instead of trading," he added.

He said that the government had been working on improving the Raswuagadhi trade route connecting the Nepal-Border in Rasuwa district.

Rajesh Kaji Shrestha, president of Nepal-China Chambers of Commerce and Industry said that Nepal is yet to bring large scale Chinese investment in Nepal.

"Despite much talk about growing Chinese investment in Nepal, large investment is not coming from China yet. Since the country has stable government which is supportive to invest in Nepal, Nepal should be able to attract large scale investment," he said.

Speaking on the occasion, June Zhu, site manager (Asia Pacific Division) of China CAMC Engineering Co. Ltd, which is involved in building Pokhara International Airport, said that Chinese companies in Nepal are alleviating power shortage, improving the infrastructure and promoting the progress of Nepal's communication facilities.

Speaking on the behalf of Chinese entrepreneurs working in Nepal, he said that Chinese companies in Nepal have also been involved in various charity works.

Mid-Autumn festival is considered as second largest festival after Chinese New Year.

Chinese (mainland) investment in Nepal stands at Rs. 46,506 million in 2017/18 which was Rs. 6,326 million in 2016/17.

The size of Nepal-China trade was 162,074 million in 2017/18 and Rs. 128,946 in 2016/17. But the large share of trade between the two countries is Nepal's import – Rs. 159,636 in the last fiscal year. Nepal exported goods worth Rs. 2,437 million only.

However, the number of Chinese tourists is gradually going up. In 2017, about 104,664 tourists came to Nepal from China, and the number is likely to grow this year since about 71,379 Chinese have come to Nepal in the first half of 2018.