Prime Minister KP Sharma Oli has urged Chinese investors to increase their investments in Nepal, highlighting the improving investment climate and vast potential across various sectors.
Speaking at the 'Nepal-China Business Summit' in Beijing on Wednesday, PM Oli emphasized Nepal’s commitment to fostering a favorable environment for foreign investors through continuous policy reforms. The event was co-hosted by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the China Council for the Promotion of International Trade (CCPIT), and the Nepali Embassy in China.
PM Oli underlined Nepal's readiness to expand investment opportunities and facilitate trade, attributing economic development to the strong, traditional ties between Nepal and China.
"The government prioritizes collaboration with the private sector and is dedicated to creating a business-friendly environment," he said, calling the private sector the backbone of Nepal’s economy.
He also expressed concern over the trade imbalance between Nepal and China, despite China being one of Nepal's largest investors and second-largest trading partner. Stressing the need to reduce the trade deficit, he highlighted opportunities for exporting Nepali agricultural products to the Chinese market.
Chinese Vice Minister for Commerce Ling Ji, addressing the summit, acknowledged the long-standing ties between the two countries and pledged China's support in increasing investment in Nepal. He noted that China, as Nepal's second-largest trading partner, plans to facilitate Nepal's access to other international markets by providing transit options. He also mentioned the duty-free facility for products from least-developed countries, including Nepal, which will come into effect this December.
FNCCI President Chandra Prasad Dhakal, speaking on the occasion, detailed Nepal's efforts to create a business-friendly environment. He shared that the Nepali government has amended eight laws related to investment facilitation and prepared a draft of a bilateral investment agreement. Dhakal emphasized Nepal’s potential in sectors such as hydropower, tourism, manufacturing, and information technology. -- RSS
