Nepal | August 12, 2020

Chinese investors keen to invest in Nepal: Minister

Himalayan News Service
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Kathmandu, October 19

Minister of State Administration for Industry and Commerce of China Zhang Mao has said that Chinese investors are willing to invest in different sectors in Nepal.

During a meeting with Industry Minister Nabindra Raj Joshi today at the latter’s secretariat, Minister Mao said that Chinese investors would come to Nepal if they are assured that their investment is protected.

Similarly, Minister Mao also expressed commitment to work with Nepali counterparts to help introduce Chinese technologies in small and cottage industries of Nepal to boost production.

Informing that Nepal can take huge benefit from the economic prosperity achieved by China, Minister Mao said, “Nepal should basically try to use the expertise that China has in industrial sector.”

Industry Minister Joshi informed that discussions in the meeting were basically inclined towards economic relationship between the two nations and possible Chinese support to Nepal for the growth of bilateral trade and economy of Nepal.

Similarly, Minister Joshi also called for Chinese investment in Nepal highlighting the conducive investment climate after the promulgation of the constitution last year.

“The government and even political parties today have prioritised economic prosperity as their major agenda. An investment-friendly climate has been developed for foreign investors in Nepal today,” said Joshi.

Highlighting investment-friendly provisions in the recently passed Industrial Enterprise Act and Special Economic Zone (SEZ) Act, Minister Joshi informed Mao that the government has tried to protect investors’ investment through the law itself. Similarly, he informed that Foreign Investment Act and other pending policies related to industry and investment are in the process of being endorsed from the Parliament soon.

Vowing to implement these acts strictly, Minister Joshi also appealed to Mao to support Nepal in developing infrastructure required for planned SEZs in different parts of the country.

 


A version of this article appears in print on October 20, 2016 of The Himalayan Times.


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