Nepal bid to draw German investment

Kathmandu, March 15:

Foreign Secretary Gyan Chandra Acharya, during the world’s biggest travel fair (ITB), urged German entrepreneurs to invest in Nepal. “There is great potiential for investment in the energy sector like hydrosector, infrastructure and agro sectors in Nepal,” he said adding that Nepal was eagerly waiting for a greater German tourist inflow during Nepal Tourism Year (NTY) 2011.

Acharya and a Nepali business delegation are taking part in the world’s biggest travel fair (ITB), and holding hold discussions with German entrepreneurs and Bavarian Chambers of Commerce and Industry in Munich. “Nepal would like to resume air connectivity with Germany directly,” he added.

Secretary to the Ministry of Commerce and Supplies Purushottam Ojha, on the occasion, briefed the Germans on Nepal’s new Foreign Direct Investment (FDI) policy provides special facilities for foreign investors.

President of the Nepal-German Chambers of Commerce and Industry (NGCCI) Rohini Thapaliya said Nepal could deduce more benefits from Bavaria, one of the highest exporting states of Germany. More than 50 busnessmen and Bavarian senior officials attended the meeting. The Nepali delegation will visit Bonn today.

The world travel industry has gathered in Berlin against the backdrop of a deepening global recession. The five-day gathering is being held in Berlin amid signs of falling demand as both consumers and business cut back their travel plans in the face of the biggest downturn in the global economy since the Great Depression.