KATHMANDU, AUGUST 17
President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal has emphasised Nepal's burgeoning stature as a promising investment destination, underpinned by its wealth of natural resources, skilled workforce, market access, and advantageous trade agreements.
Addressing the China (Yunnan)-Nepal Industrial Cooperation Promotion and Enterprise Matchmaking Meeting held as part of the China-South Asia Business Forum, Dhakal said, "Nepal's wealth of natural resources, educated workforce, market access, and preferential trade agreements with China and India make it a promising investment destination."
FNCCI President Dhakal highlighted the parallel attributes shared by Yunnan and Nepal, including geographical similarities and picturesque landscapes rich in water resources.
He lauded the sister city relationship between Kunming and Nepal's Pokhara, characterised by agreements promoting cultural exchange, tourism, and research and development collaboration.
He underscored the increasing connectivity facilitated by direct air routes between Kathmandu and Kunming, as well as the potential for future direct flights between Pokhara and Kunming.
Dhakal spotlighted the growing potential for Chinese tourism in Nepal, exemplified by Sichuan Airlines' recent maiden flight to Pokhara during the Chinese 'Dragon Boat Festival'.
He further outlined compelling investment opportunities spanning diverse sectors, such as energy, tourism infrastructure, transportation, trade facilitation, SMEs, ICT, and agriculture.
Notably, Dhakal emphasised Nepal's remarkable progress over the past three decades, with more than five million people lifted from poverty, leading to an expanding middle-class population.
He also highlighted the success of multinational companies operating in Nepal, citing their consistent profitability, and underscored the preferential trade access Nepal enjoys in India, the EU, and other developed markets.
Nepal is the rotating president of China-South Asia Business Forum this year.
Reflecting on the journey of the China-South Asia Business Forum since its inception in 2004, Dhakal highlighted its transformative evolution into a cornerstone of high-level cooperation.
Throughout its 15 editions, the forum has been instrumental in fostering regional synergy and nurturing a collective vision for the prosperous future of the region.
In his address, Dhakal emphasised the paramount importance of unity and interdependence in navigating the intricacies of today's global landscape. He stressed that collaboration, grounded in shared economic benefits and mutual growth, is the key to surmounting the challenges posed by an ever-evolving environment.
Central to the collective agenda, Dhakal advocated for the exploration of fresh avenues for investment, the invigoration of tourism, the augmentation of trade, and the fortification of industrial value chains.
As uncertainties loom on global economic horizon, he underscored the necessity of devising robust strategies that can shield against potential shocks, ranging from conflicts and climate change to pandemics and supply chain disruptions.
While acknowledging the substantial market potential within the South Asian region, Dhakal acknowledged the existing impediments of inadequate connectivity, logistical infrastructure, and trade facilitation that have hindered its economic growth.
He called upon the collective effort to harness South Asia's demographic dividend and abundant natural resources, catering to a population of over 1.7 billion people.
Dhakal put forth a compelling proposition for elevating intra-regional investment flows and trade within SAARC nations and China.
He underscored the importance of leveraging China's unrivalled trade facilitation, cutting-edge logistics, transformative connectivity projects, advanced technology, investment initiatives, and burgeoning digital economy to unlock South Asia's immense consumer market potential.
The focus, as delineated by Dhakal, should be on establishing seamless interlocking of supply and industrial chains.
This would be facilitated by integrating China's unparalleled expertise, technology, and investment prowess across critical sectors, including agriculture, agribusiness, tourism, renewable energy, mining, infrastructure development, ICT, herbal and pharmaceuticals, among others.
Dhakal's address resounded with a resolute belief that the China-South Asia Business Forum serves as a dynamic conduit for deepening economic relations between China, South Asia, and Nepal, nurturing essential bonds between business entities and governmental bodies.
As a testament to Nepal's pivotal role in the event, the country assumed the spotlight as the 'Theme Country' at this year's China South Asia Expo.
Dhakal conveyed his earnest wishes for the resounding success of the 16th China-South Asia Business Forum.
The 16th China-South Asia Business Forum continues to stand as a testament to the collective vision of fostering robust collaboration, unlocking synergies, and capitalising on opportunities that hold the potential to transform Nepal into an instrumental bridge between China and the vibrant South Asian region.
A version of this article appears in the print on August 18, 2023, of The Himalayan Times.
