Saturday, September 16, 2023

NCC urges for Chinese investors

 Kathmandu, Sept. 14

Nepal Chamber of Commerce has urged the Chinese private sector to increase investment in Nepal.

The NCC organised a discussion on bilateral economic exchanges and trade relations with a group of Chinese businesspersons, which is currently on a visit to Nepal. at its secretariat in Kathmandu.

On the occasion, President of the NCC, Rajendra Malla, urged the Chinese private sector to invest in Nepal's hydropower, agriculture, information technology, infrastructure development and other sectors.

"The relationship between Nepal and China is very important from a diplomatic and economic point of view. Lately, the trend of Chinese investment has begun to increase, especially in the important projects of increasing production and creating jobs," he said while requesting the visiting guests to expand investment across business and infrastructure projects in Nepal.

Malla said that the NCC, in collaboration with the concerned government agencies, would take initiatives to facilitate investment from China. He said that the trade agreement between Nepal and China should be reviewed from time to time to facilitate trade.

He emphasised the effective implementation of the transport agreement between the two countries and the construction of road infrastructure along the border with the northern neighbours. Malla said, "Customs checkpoints like Tatopani and Rasuwagadhi should be upgraded by building a well-equipped road infrastructure."

According to him, Nepal's exports should be increased by keeping international-level quarantine labs at the customs points. Various studies show that there is an annual export potential of around Rs. 200 billion rupees from Nepal to China so the country should work to exploit this potential.

The NCC suggested that the issue of business facilitation between the two countries should be given top priority during the upcoming China visit of Prime Minister Pushpa Kamal Dahal Prachanda.

During the discussion with the Chamber, the high-level representative team of the Chinese private sector led by Hen Yin inquired about the policy difficulties for investment in Nepal.

 Published in The Rising Nepal daily on 15 September 2023. 

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