Energy Minister Pun urges Chinese entrepreneurs to invest in Nepal's hydro sector
October 16, 2018 09:24 PM NPT
KATHMANDU, Oct 16: Minister for Energy Barshaman Pun has urged the Chinese entrepreneurs to invest in Nepal's hydropower sector.
Addressing an interaction on 'Nepal-China Economic Co-operation Forum: Prospects of Investment in Nepal’s Energy Sector’ in Beijing on Tuesday, the minister shed light on the significance of electricity as a priority sector with a direct bearing on socio-economic transformation of the country, according to a press statement issued by Nepal Embassy in China.
Minister Pun, who is on a visit to China, outlined the government's plan to develop 15000 MW of electricity in 10 years.
Minister Pun underscored the key role of foreign investments in achieving the target and invited the Chinese enterprises to utilize the opportunities for investment in Nepal’s hydropower for win-win outcomes for both countries.
On the occasion, Nepali Ambassador to China Leela Mani Paudyal, said that the forum was organized with a view to facilitating dialogue between Nepali policymakers and Chinese enterprises, and for exchanging ideas and experience on further accelerating Chinese investment in the generation of hydropower in Nepal.
He assured the full support and co-operation of the Embassy of Nepal in facilitating such investments.
Briefing on the investment opportunities for Chinese investors in Nepal’s hydropower sector, Joint Secretary at the Ministry of Energy Dinesh Kumar Ghimire outlined the policies, tools, processes and facilities relating to the investment regime in the hydropower sector.
Likewise, Managing Director of Nepal Electricity Authority Kulman Ghising highlighted the potentials of investing in Nepal’s hydropower from a regional market perspective.
"It is a most appropriate time to invest in Nepal due to the huge volume of regional and domestic demand in electricity, the robust nature of energy connectivity infrastructures in the region, seasonal complementarities for demand and supply, and the credibility of NEA as an off-taker," he said.
Welcoming the Nepali delegates, Vice-President of China Association for International Economic Co-operation Guo Yongle hoped that the interactions would promote business co-operation between the two countries and create new opportunities in further advancing Nepal-China economic co-operation.
The event was organized by Beijing-based Nepal Embassy in collaboration with China Association for International Economic Co-operation.
The forum brought together Chinese energy companies and entrepreneurs, as well as senior officials of the Government of Nepal and businessmen and representatives of companies from Nepal for interactions on facilitating Chinese investments in the hydropower sector.
More than one hundred and twenty participants including representatives of public and private sector companies of Nepal and China, senior office-bearers of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Non-Resident Nepali Association (NRNA), Independent Power Producers Association of Nepal (IPPAN), representatives of Asian Infrastructure Investment Bank (AIIB), and media persons also took part in the program, the embassy said.