Chinese investors are eager to invest in Nepal: Ambassador Chen

Kathmandu, Aug. 8

Ambassador of China to Nepal, Chen Song, has said that Chinese investors are eager to invest in Nepal and so the latter should create an investment-friendly environment.

"Chinese investors are attracted to the manufacturing industry, agriculture, energy and other sectors," he said during a meeting with the President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, at the latter's office on Tuesday.

However, Ambassador Chen said that an easy environment should be created to bring in foreign investment and arrangements should be made to get returns easily. He said that even in China, the policymakers were apprehensive about foreign investment in the beginning, but the situation improved gradually.

According to Chen, policy stability and favourable treatment to the investors are needed to make the country an investment destination.

He also informed that there were discussions about the opening of the Tatopani border crossing and bringing in a Chinese bank to Nepal. The Chinese bank is needed to facilitate the cross-border trade between Nepal and China. Traders have long been demanding it.

At the meeting, Dhakal said that Nepal could become the main destination for Chinese investment and tourism. He drew the attention of Ambassador Chen that there is good potential for foreign investment in Nepal's manufacturing, energy, tourism infrastructure and other sectors.

He also said that there is a need for direct flights from the main cities of China to all the international airports of Nepal for the promotion of tourism. Dhakal requested that Nepal should be included in the priority list of main destinations for Chinese tourists.

Stating that the FNCCI is working to promote small enterprises and requested the Chinese Embassy to support those entrepreneurs for their observation visit to China. He drew the attention of the ambassador to the possibility of a Chinese bank coming to Nepal.

President Dhakal emphasised that the Chinese government should also take initiatives for the effective operation of the Tatopani crossing, which has been closed for a long time.

 Published in The Rising Nepal daily on 9 August 2023.