The pre-summit conference for the 2019 Nepal Investment Summit that will be held in Kathmandu from March 29 to 30, took place in Beijing on February 25. The event drew the participation of over a hundred guests including representatives of Chinese enterprises who want to take a closer look at the business opportunities that Nepal has to offer.
The Nepalese Ambassador to China Leela Mani Paudyal and the CEO of the Investment Board of Nepal Maha Prasad Adhikari attended the event.
The Chinese investment in Nepal has seen a positive trend in recent years. Last December, Shanghai Institutes for International Studies released the report of the Sino-Nepalese Development and Cooperation under the Belt and Road Initiative (BRI), suggesting that there are currently over 100 Chinese enterprises invested in Nepal, ranging from the sectors of hydropower, aviation, hotel, food and medicine.
In addition to the business potential under the BRI, China and Nepal have also agreed to expand bilateral cooperation and develop connectivity infrastructures under the Trans-Himalayan Multi-Dimensional Connectivity Network, and expedite economic and people-to-people exchanges, according to the Nepalese Embassy in Beijing.
The launch of the 2019 Nepal Investment Summit will showcase new investment opportunities and the ongoing process of economic and structural reforms in Nepal, and also unveil projects which may be taken up by interested business enterprises under foreign direct investment.
At the pre-summit, Ambassador Paudyal said in his speech that Nepal is an excellent destination and a relatively virgin land for investment with a tremendous amount of untapped natural, cultural and human resources as well as a very large younger population. “It has special strategic and location advantages, and is close to two of the world’s largest markets and fastest growing economies, China and India,” the ambassador said.
“Our topography and abundant natural resources and biodiversity give rise to vast untapped potentials in hydropower, agriculture, mining and aromatic and medicinal plant research. The natural beauty, extensive biodiversity and rich cultural heritage create huge opportunities for the tourism business. Of no less importance is the fact that Nepal enjoys good market access within the neighbourhood as well as in the region and beyond.”
Also at the event, Adhikari introduced the investment opportunities and reforms on policy and procedures initiated by the Nepalese government for attracting foreign investments.
Representatives from Zhongxing Telecommunication Equipment Corporation and Power China, the two leading Chinese investors in Nepal, shared their experiences and encouraged more Chinese companies to take advantage of the investment opportunities available in the country.