CMs of six provinces pitch for Chinese investments

Published On: September 8, 2019 10:00 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Sept 8: Chief ministers of six provinces pitched investment prospects of their respective provinces to Chinese investors in Kathmandu on Saturday.

Chief ministers of Province 1, Province 3, Gandaki, Province 5, Karnali and Sudurpashchim provinces highlighted possible areas of investments at the 2nd Nepal-China Economic and Trade Cooperation Forum 2019 organized jointly by Embassy of Nepal in China and the Economic Joint Committee of China Commercial Stock Enterprises (EJCCCSE).

The chief ministers mainly highlighted projects related to agriculture, tourism, industry and hydropower projects.

 Speaking at the program, Nepali ambassador to China Leela Mani Poudyal said, potential investors have time and again approached the Nepali embassy to discuss on issues like policy continuity, simplified and well defined procedures and one-door system, hassle-free investment environment, predictable policy and legal regimes, among others. “If this conference could lead to the establishment of one leading industry in each province, we would really view it as a huge success,” he added.

Similarly, Deputy Secretary General at EJCCCSE, Li Xuesong, talked about the possibility of establishing an industrial park in Chitwan. “We will introduce small and medium enterprises (SMEs) to the international business center and open the market of Nepal and South Asia to the world,” he said. “Establishment of industrial park is a necessity as Nepal’s industrial infrastructure is weak.”
Addressing the program, Vice President Nanda Bahadur Pun requested investors to bring their investments in Nepal, stating that bringing economic prosperity is the main priority of the government. “We have adopted a policy of receiving FDI and have prioritized transportation and connectivity in which investors can invest,” he said, adding: “We are ready to carry out such projects in public-private partnership model.” 

Similarly, Pushpa Kamal Dahal, co-chairman of Nepal Communist Party, stated that the government has created investment-friendly environment in the country. Also speaking at the program, Minister of Industry, Commerce and Supplies Matrika Prasad Yadav pledged all possible support of the government to projects like establishment of industrial park.

Likewise, Minister for Culture, Tourism and Civil Aviation, Yogesh Bhattarai, requested Chinese tourists to make Nepal a preferred destination for their major holidays. 

The chief minister of Province 3, Dor Mani Poudel, said that Nepal has emerged as a developing economy and one of the best countries to invest in. “Nepal encourages foreign investment both as joint venture operations with Nepali investors or as 100% foreign-owned enterprises and public-private partnership as well,” he said, adding: “Nepal is open for business in many areas. We have Investment Board Nepal, which is headed by the Prime Minister himself, mandated to provide investors with all the help they need.” 

Similarly, Chief Minister of Gandaki Province, Prithvi Subba Gurung, highlighted the strength of province and spaces where investors can get involved in.

 The second edition of the forum was organized with an aim of increasing Chinese investments in Nepal. Some 50 Chinese investors as well as chief ministers, and ministers, among others, participated in the program. 

The first edition took place in Beijing in April during President Bidhya Devi Bhandari’s state visit to China.

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