They have already met high-ranking government officials, officials of Nepal Rastra Bank (NRB), and chiefs of different Nepali commercial banks as part of their preparation for opening Chinese bank in Nepal.
“Chinese business people have shown interest to open bank in Nepal. They have already initiated consultations with different individual and agencies, including the NRB,” Gopal Kafle, deputy governor of NRB, said. “As their investment in Nepal is growing, they want the presence of their own bank here.” [break]
Nepal has been witnessing increase flow of Chinese investment over the past few years.
In a bid to expedite talks to open Chinese bank in Nepal, a high-level high level delegation led by Deputy Governor of People´s Bank of China is coming to Nepali within a month.
“The delegation, among others, will hold discussion with Nepali officials for opening Chinese bank in our country to facilitate their trade and investment,” Kafle added. “The delegation will also discuss on ways to manage investment in Chinese debenture by Nepal.”
Chinese traders are involved in a number of crucial infrastructure projects, including Upper Trishuli-3A, Pokhara International Airport, dry port in Larcha and Melamchi Drinking Water Project, in Nepal.
Besides, Chinese investment has also come in hotels, restaurants, commodity trading and meat processing firms, among others.
Keeping in view the increasing involvement of Chinese entrepreneurs in business and investment in Nepal, Finance Secretary Shanta Raj Subedi had recently urged Chinese officials to open branch of Chinese bank in Nepal.
According to NRB officials, Chinese traders are interested to open a development bank to cater to the demand for capital to invest in infrastructure projects.
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