Nepal | July 11, 2020

Nepal, India and China trilateral investors’ meet to be held soon

Himalayan News Service
Share Now:

Kathmandu, September 15

As lack of investment is considered to be the major setback for the robust growth of the country’s economy, Nepal has been trying to lure foreign investment in various sectors since 1992 through introduction of Foreign Investment and Technology Transfer Act (FITTA). However, the decade-long insurgency, political transition, labour unrest and power outages have surfaced as discouraging factors in attracting foreign direct investment (FDI) in Nepal.

To energise Nepal’s economy, which was further devastated due to last year’s earthquakes and border blockade, China India Business, Investment and Incubation Centre (CHIBIIC) — a Haryana (India)-based think-tank — in association with Nepal Invest Pvt Ltd is going to organise a trilateral — Nepal, India, and China — investors’ meet in the Capital on September 29.

The trilateral investors’ meet has been planned to push Nepal to move together with its giant neighbours — India and China — by harnessing the potentials of the country, informed Bhai Raja Panday, managing director of Nepal Invest Pvt Ltd.

CHIBIIC is also taking the initiative to bring investment in India. Chinese investors have made huge investments in India under the initiation of CHIBIIC, which facilitates foreign investors in India. As per the recently unveiled data by MakeInIndia Campaign of Indian Prime Minister Narendra Modi, a total of 52 projects have been set up under MakeInIndia Campaign by Chinese enterprises, creating altogether 24,162 jobs with $10.70 billion capital invested.

“If Nepal could tap even a small portion of annual outward FDI from China and India, it would be sufficient for its investment needs like in infrastructure, production and service sectors,” Panday explained, “This is why we have joined hands with CHIBIIC for the investors’ meet. Nepali investors would be able to establish contacts and negotiate with investors from neighbouring economies to set up businesses in joint venture.”

The government has also pledged to facilitate those who commit to invest in Nepal. Prime Minister Pushpa Kamal Dahal is scheduled to inaugurate the two-day investors’ meet.

Indian investors can invest directly through Nepali joint ventures, while the government is willing to facilitate Chinese investors wanting to partner with government enterprises to establish joint ventures in the country.

The list of participating companies from India has been finalised, while a Chinese company — Xian Sino Business Operation and Management Co Ltd — has been assigned to coordinate and bring Chinese investors for the meet.

Investors from various sectors like manufacturing, agro industry, financial services, education, textiles, electrical, real estate, health, renewable energy, among others, from China, India and Nepal are scheduled to participate in the meet.

A total of 22 companies from India, including some prominent corporate groups, have confirmed their participation in the trilateral investors meet. Similar numbers of investors are expected to participate from China. Likewise, representatives from 70 Nepali companies have registered their names for the investors’ meet.


A version of this article appears in print on September 16, 2016 of The Himalayan Times.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Electric vehicle charging station comes into operation in Tanahun

DAMAULI: An electric vehicle charging station has come into operation at Dumre in Bandipur Rural Municipality-1 of Tanahun district, on Friday. Tanahun Division Forest Office provided Rs 500,000 for setting up the station, first of its kind in the district, said Chief at the Office, Kedar Bar Read More...

Tarai districts at risk of floods after heavy rainfall in hilly region

RAUTAHAT: Tarai districts are at a high risk of floods as water level has risen alarmingly after incessant rainfall in hilly and Chure region in recent days. Locals residing on the banks of Bagmati and Lalbakiya rivers in Rautahat and Sarlahi districts have been living in terror of floods as Read More...

Putting the brakes on COVID-19: Safeguarding the health and rights of women and girls

KATHMANDU: The COVID-19 pandemic has sickened 16,649 people and left 35 dead in Nepal as of July 10. But the full toll of this catastrophe has been incalculably greater. The health system has been overwhelmed and the economy has been greatly impacted. Women and girls have been disproportionately af Read More...

Disputes within ruling party will be resolved: PM Oli

KATHMANDU: Prime Minister KP Sharma Oli today said that the government's entire focus is currently on saving lives of people who face threats from the coronavirus pandemic as well as from natural disasters. In his address to the nation on Friday night, PM Oli reiterated that people have to still Read More...

Barcelona or Napoli await Bayern if no upset against Chelsea

NYON: Bayern Munich will face Barcelona or Napoli in the quarter-finals of the Champions League, if they can defend their three goal lead against Chelsea in their last 16 second leg game. The Champions League will resume in August after being halted in March due to the COVID-19 pandemic with Read More...

NHRC chief draws flak for condemning Mohna Ansari

KATHMANDU, JULY 10 National Human Rights Commission Chairman Anup Raj Sharma has drawn flak for issuing a press release condemning NHRC member Mohna Ansari for criticising Samajwadi Party-Nepal’s decision to expel Sarita Giri from both the party and the House of Representatives. Sharma h Read More...

Commission on the investigation of Enforced Disappeared Persons

Conflict victims lament govt’s apathy in their joint submission

KATHMANDU, JULY 10 Various victim groups of Nepal have made a joint submission to the 37th Session of the Working Group on Universal Periodic Review of the United Nations Human Rights Council, drawing its attention to the Government of Nepal’s persistent failure to deliver truth, justice, repar Read More...

Gaindakot, Nawalparasi

East-West Highway obstructed as flood sweeps diversion in Nawalpur

KATHMANDU: The East-West Highway has been obstructed since a diversion was washed away by a flash flood at Gaindakot section in Nawalparasi (East) district. It has been learnt that the vehicular movement along the highway came to halt after the flooded rivulet in Thumsi swept away the culvert o Read More...