The business delegation in the visit lacked well-worked out projects to sell, but still individual talks and talks at the business association levels have spurred optimism and commitment between the business communities of two countries to work together in near future.
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and All China Federation of Industries and Commerce (ACFIC) established a formal tie during PM´s China visit. On the last leg of the visit, Vice Chairman of ACFIC Wang Xinkui Thursday announced that the federation would soon commence bilateral programs in collaboration of FNCCI.
“This has helped us be optimistic over the start of new business era between the two countries,” said FNCCI President Kush Kumar Joshi, after participating in the Nepal-China Business Meet.
At the individual level, hydropower entrepreneur Gyanendra Lal Pradhan said the visit was fruitful in exploring partners and discussing projects that could be started in the near future. During the meeting, he said he held business talks with a construction and two hydropower companies for investing in Nepal.
“Based on what we discussed here, I am confident of starting at least one project with the Chinese investment within next six months,” said Pradhan.
Pradhan, who held extensive talks with various investors, said that the Chinese EXIM Bank was willing to pledge as much soft loan as possible to Nepal. He viewed the government should tap this financial resource and channel the fund to the private sector for a longer term at soft interest rates.
Despite least preparations, he argued the business community through the visit has managed to establish a platform on which they can build a longer term business partnership with the Chinese counterparts.
President of Nepal Chamber of Commerce (NCC) Surendra Bir Malakar said the visit succeeded in drawing Chinese investors´ attention toward high business potential offered by Nepali hydropower, tourism, banking and construction sectors.
“If the government assured minimum stability and security, a larger number of Chinese investors will jump into businesses in Nepal,” said Malakar, adding that the PM´s visit has proved meaningful in improving business communities´ relationships between the two countries.
Joshi too stated that the PM´s address to the Chinese businessmen have mainly helped boost their confidence for investment in Nepal. Joshi urged the government to immediately form a special committee, as the PM promised in Beijing, to fulfill his commitments like flexible labor law and other incentives to overseas investors.
With stronger business ties and more Chinese investments in Nepal, Radhesh Pant, former president of Nepal Bankers´ Association (NBA), believed the two sides will have no option but to bring the banking system and operations closer.
“Given the investment commitment we have received, I believe Chinese banks will come to Nepal soon,” he told myrepublica.com.
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