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Minister Bhandari urges Chinese investors to set up businesses, industries in Nepal

B360
B360 May 14, 2024, 10:42 am
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KATHMANDU: A delegation of investors from China met with Minister for Industry, Commerce and Supplies, Damodar Bhandari, on Monday.

The meeting was held at the Ministry of Industry, Commerce and Supplies in Singha Durbar. During the meeting, Minister Bhandari urged the Chinese investors to consider setting up businesses or industries in Nepal, assuring them of the country's favourable investment climate. "You should consider investing in Nepal. The government is committed to creating an environment that is conducive to investment. We have addressed some legal complexities. If any further issues arise, the government will ensure a comfortable environment," he stated.

Minister Bhandari conveyed that the incumbent government is keen to draw Chinese capital and technology to Nepal. "You have come to Nepal to invest in business here. I would like to warmly welcome you on behalf of the government. Please present your proposals. Let's discuss them. Be assured, you will see favourable returns on your investment."

Affirming that an environment conducive to foreign investment is being nurtured in Nepal, the Minister expressed his confidence that the relations between Nepal and China would reach unprecedented heights.

He noted that the government is enthusiastic about the potential investment from the Chinese investors and suggested that their interest would be further piqued once the investment is considered. During the meeting, Secretary at the MoICS, Dinesh Kumar Ghimire, underscored that Nepal and China share a long-standing history of trade relations and expressed delight over the intentions of the visiting Chinese delegates.

According to Ghimire, the government has been considering policy-level reforms to attract foreign investment.

Highlighting the vast potential Nepal has for investment in sectors such as mining, energy, and tourism, among others, Secretary Ghimire assured a guarantee of return on investment in these sectors.

The visiting Chinese delegation included entrepreneurs from the agriculture, energy, tourism, mining, and construction sectors.

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