Chinese investors in Nepal to find investment areas

Kathmandu, July 5: A business delegation from the Guizhou Federation of Industry and Commerce (GFIC), China is currently in Nepal to find potential investment areas here.

The delegation, led by vice-president of GFIC Zhang Zhao, held a meeting with the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) at the FNCCI Secretariat on Thursday.

Zhang is also an executive member of the All China Federation of Industry and Commerce (ACFIC).

The delegation has come to Nepal for the second time for the investment purpose.

The two sides discussed Chinese investment in infrastructure, information technology, tourism, smart city, urban transport, human resource development and data centre establishement, said the FNCCI.

The investment areas are in line with the priority sectors as defined by the governments of Nepal and China.

Zhang said that the businessmen from Guizhou were interested to transfer new technology and bring in investment along with their experience in Nepal.

“Chinese Exim Bank’s Guizhou branch is also interested to make an investment in Nepal, and Guizhou University is ready to support Nepal in educational development,” he said.

The Chinese delegation included businessmen from investment, highway, transport, planning, energy, telecommunication, gas heating power design, railway and university sectors.

FNCCI president Bhawani Rana appreciated the Chinese commitment to bring in investment to Nepal and said that Nepal was an appropriate destination for foreign direct investment (FDI).

She assured the Chinese businessmen that the FNCCI would support them in every possible way. She also proposed to establish a data centre at the FNCCI Secretariat in Kathmandu.

FNCCI vice-president Shekhar Golchha urged the Chinese investors to reap the benefits by investing in Nepal.

 “The government is active in creating a favourable environment for investment, and the coming dedecade will be a ‘development decade’. So it’s the right time to invest in Nepal,” he said.

Published in The Rising Nepal daily on 6 July 2018.