NCC urges SKorean envoy to help bring Korean investment

Kathmandu, July 14

Nepal Chamber of Commerce (NCC) has requested South Korea to support in attracting Korean investment in Nepal.

President of the NCC, Rajendra Malla, while welcoming the South Korean Ambassador to Nepal, Park Tae-Young, at the Chamber Building in Kathmandu, requested him to enhance industrial and commercial cooperation.

"Diplomatic relations between the two countries are about to reach 50 years. So, it is necessary to further strengthen mutual cooperation through increased investment and business partnership," he said, according to a statement issued by the Chamber on Thursday.

He urged the newly appointed Ambassador Park to create an investment environment in Nepal's hydropower, infrastructure, tourism and technology. He also said that the return on investment could be ensured since there is a high demand for Nepal's electricity in countries like India and Bangladesh.

Malla drew Ambassador Park's attention to the need to expand air connection between the two countries. He said, "By expanding the air network, tourism activities can be increased in both countries, Nepali workers in Korea will also benefit more." '

President Malla also asked Ambassador Park to invest in small and medium industries including household goods, handicrafts. Currently, South Korea has invested Rs. 12.81 billion in various projects in Nepal including service sector, tourism and agriculture. This investment has created more than 12,000 jobs. Similarly, 11,000 tourists have come to Nepal from South Korea this year.

In response, Ambassador Park promised to further strengthen diplomatic and economic relations with Nepal during his tenure.

He said that he would play a role in making the relationship between citizens more sustainable. Stating that all the products produced in Nepal are environment-friendly, the ambassador also said that he would take initiatives to send the products produced here to his country.

Ambassador Park said that he would take initiative to hold a joint cultural programme on the occasion of the 50^th anniversary of the two countries. 

 Published in The Rising Nepal daily on 15 July 2023.