FNCCI bid to lure Chinese investment

KATHMANDU: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) today made public the outcome of the tenth Nepal-China Non Governmental Cooperative Forum Meeting held in Chengdu, China.

Stressing on investment in Nepal, the FNCCI delegation stressed on four major aspects that potential Chinese investors should look at — water resources, forest-based products, agriculture and infrastructure development.

“The response from the Chinese side was overwhelming. Many prior investors in Nepal also supported Nepal as a prime investment zone compared to other countries, due to less investment and much profit from investment in Nepal,” said FNCCI vice-president Bhaskar Raj Karnikar.

According to the memorandum co-signed by the two delegations, both China and Nepal have agreed that the forum which has been held alternatively in China and Nepal is to be held annually as per determined by the two sides in response to increasing business activities in both countries. They also decided to move the Forum’s activities in new directions as per the trade and investment opportunities created due to changing global and regional economic dynamics and development. “If we can create an environment for investors to come in and help develop the country we can achieve a lot. Therefore, the frequent bandhs and strikes need to be taken care of. As seen in Chengdu, the potential is great and business people there have really developed it. Nepal has the same kind of potential,” added Karnikar.