October 15: Nepal and China have agreed to form a joint taskforce facilitate investors of both countries. The two countries had reached an understanding to from the task force comprising officials from the Ministry of Finance of Nepal and the Ministry of Commerce of China during Chinese President Xi Jinping’s state visit to Nepal.

An official at the Ministry of Finance told New Business Age that the taskforce will identify the areas of investment and facilitate more investment from the Chinese side.

The task force will hold regular meetings to find a solution to the legal and bureaucratic hurdles in investment by businessmen from both the countries.

According to the Finance Ministry, the taskforce will facilitate in assistance, loan and private investment between the two countries.

“This mechanism will be very helpful in facilitating investment from China,” says Joint Secretary DB Chhetri, who looks after the foreign desk at the Ministry of Finance.