Addressing the China-Nepal Investment Forum organized by China Council for the Promotion of International Trade in Beijing on Tuesday, Prime Minister K P Sharma Oli said that Nepal has huge investment opportunities. "There is big investment opportunity in Nepal from hydropower to construction sector," he said.Saying that Nepal could be a transit state to the South Asian market, Oli briefed Chinese investors about the reforms the Nepal has initiated in the last couple of years.
On the occasion, Radhesh Pant, CEO of Nepal Investment Board also apprised Chinese investors of the opportunities that Nepal offer. "Nepal offers good investment environment," he added.
China is one of the major trading partners of Nepal. There, however, is huge trade deficit due to growing imports from China and low export from Nepal to the northern neighbor. In Fiscal Year 2014/15, trade deficit stood at US$ 990 million as Nepal exported goods worth mere $23.7 million, while it imported goods worth $1,013.7 million from China.
Likewise, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Pashupati Murarka, also presented some glimpses on the investment and trade opportunities in Nepal, and potential areas of cooperation, from the viewpoint of Nepali private sector. "Nepal, is a part of China's 'One Belt, One Road' initiative. I am confident that there is ample scope for building on our age-old historical and economic relation, and accelerating the pace of our mutual business cooperation with the construction of Silk Road Economic Belt," he said, adding that Nepal could turn into a transit hub of trade between China and South Asia. "The opening up and modernization of economic corridors between Nepal and China could be beneficial for the entire region."
Though China has offered zero tariff facilities to around 8,000 export products from Nepal, Nepal has not been able to take advantage from the Chinese gesture. "The facility needs to be utilized fully and simplified from both sides to increase Nepali export," Muraraka said, welcoming more Chinese investment in industries that can export back to China and South Asian markets to reduce Nepal's ballooning trade deficit.
Explaining the potential for investment in Nepal -- catering to the two most populous nations China and India with population of 2.5 billion in addition to the market of South Asia, the private sector leader shared that FNCCI was eager to organize Nepal-China Investment Seminar coinciding with the 50th Anniversary of FNCCI this year.
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