KATHMANDU, DECEMBER 4

Prime Minister KP Sharma Oli has called on Chinese investors to expand their investments in Nepal.

Addressing the Nepal-China Business Summit in Beijing today, he emphasized Nepal's improving investment climate and its vast potential across multiple sectors.

The summit was jointly organized by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the China Council for the Promotion of International Trade (CCPIT), and the Nepali Embassy in China.

Highlighting ongoing reforms to attract foreign investment, PM Oli assured that Nepal is committed to expanding opportunities and facilitating trade through favorable policy adjustments.

As the chief guest, he underscored the traditional and cordial ties between Nepal and China, stating that economic growth is achievable through mutual cooperation. 'The government prioritizes collaboration with the private sector, creating a conducive business environment,' he remarked, adding, 'The private sector is the backbone of the economy, and the government is committed to protecting both domestic and foreign investments.'

PM Oli also noted that while China is one of Nepal's largest investors and its second-largest trade partner, the persistent trade deficit is a concern. He urged for enhanced trade facilitation, highlighting opportunities for exporting Nepal's agricultural products to China.

Chinese Vice Minister of Commerce Ling Ji, addressing the summit, reaffirmed the long-standing relationship between the two countries and highlighted the growing trade and economic activities.

He expressed China's commitment to increasing investments in Nepal. Ling also announced that Nepal will benefit from duty-free access to Chinese markets for products from least-developed countries starting this December, which will help boost Nepal's trade prospects.

FNCCI President Chandra Prasad Dhakal spoke on the latest initiatives by the Government of Nepal to create a business-friendly environment, including amendments to eight investment-related laws and the preparation of a draft bilateral investment agreement. Dhakal outlined Nepal's immense investment potential in sectors such as hydropower, tourism, manufacturing, and information technology.

This collaborative summit showcased Nepal's readiness to strengthen its economic ties with China and attract significant foreign investments.