First Nepal-German Business Forum concludes

Kathmandu, October 2

The Embassy of Germany organised the First Nepal-German Business Forum in Kathmandu today.

The theme of the event organised in coordination with the Nepal-German Chamber of Commerce and Industry and the Investment Board Nepal was ‘Building Bridges: Nepal-German Business Relations’. “The forum aimed at allowing ‘German firms to explore Nepali market and benefit from new dynamics characterised by political stability, energy security and efforts of the Government of Nepal to improve investment climate,” read a press release issued by the embassy.

During the event, 28 representatives from 20 German companies and organisations met their Nepali counterparts and exchanged business experience. Major companies participating in the event included Siemens and Commerzbank AG. They covered sectors such as energy, finance, hospitality/food & beverage, infrastructure development, IT/communication, manufacturing and tourism.

Around 90 participants engaged in round-table discussions with Nepal government representatives on policy and regulations for new businesses in Nepal, foreign direct investment opportunities and doing business in Nepal, according to the release.

“This forum aimed to promote Nepal as a place for business and wanted to foster job creation as well as investment for production. It therefore contributed to the bilateral economic relation and informed potential German investors about the improving business climate in Nepal,” read the release.

The business forum was part of a multitude of events being organised by the embassy. The events include a three-day visit by a delegation lead by Norbert Barthle, German vice-minister of Cooperation and Economic Development, followed by the National Unity Day Celebration on October 3, and the inauguration of the German Technical School in Dhading on October 4.

Barthle, who arrives tomorrow, will call on Prime Minister KP Sharma Oli and meet other government representatives on the same day. During his stay in Nepal, Barthle will attend inauguration ceremony of the German Technical School in Dhunibesi Municipality of Dhading.

He will also inaugurate the National Load Dispatch Centre, financially supported by the German Development Corporation with a grant of seven million Euros. Barthle will also visit Patan and Bhaktapur cities. During his engagements, Barthle will also discuss German support to Nepal on the implementation of federal system in the country.  “This visit underlines Germany’s wish to continue its long-standing partnership with Nepal by adding new dimension to it,”read the release. “Support for the German Technical School in Dhading shows that professional training is key to developing future industrial relationship of Nepal with Germany and the whole Europe.”

According to the embassy, private industries from Germany have been showing interest in exploring opportunities in Nepal. The embassy said renewable energy was one of the three pillars of Nepal-German cooperation, other two being health and sustainable economic development.“Of course, Germany will continue to make significant contributions for Nepal through the European Union as well as multilateral institution (development banks and the UN system),” read the release.