Commerce Minister Thapa seeks to woo Italian investors

KATHMANDU:

Minister for Commerce and Supplies Sunil Bahadur Thapa today sought to woo Italian investors claiming that the investment climate in the country is gradually improving as the nation is steadily overcoming various challenges brought on by the decade-long armed conflict and political transition.

Speaking at a programme jointly organised by Nepal Chamber of Commerce (NCC) and Nepal-Italy Chamber of Commerce and Industry in honour of visiting Italian Undersecretary of State at the Ministry of Foreign Affairs and International Cooperation, Benedetto Della Vedova, Minister Thapa laid emphasis on the bilateral economic ties between Nepal and Italy to expand trade and investment opportunities.

“Nepal needs more investment to achieve its aim of graduating to the league of developing nations by 2022, and we are seeking foreign direct investment,” Thapa stated, adding there are special facilities for investors in the infrastructure sector. He also urged the visiting dignitary to convey the message to Italian investors that Nepal recently signed Power Trade Agreement (PTA) with India. PTA with India is a milestone for energy sector development as well as improving the investment climate in the country since power shortage stood as a major obstruction to the development of the manufacturing sector, according to Thapa. “Vedova’s visit to Nepal will pave the way for expanding bilateral economic relations between the two countries,” he said.

Addressing the programme, Vedova expressed commitment to convey the message on investment opportunities in Nepal to Italian investors and encourage them to invest here.

Likewise, the visiting dignitary told Nepali business people that Milano Trade Fair would be a good opportunity to establish business-to-business (B2B) relations with the Italian business community.

Milano Trade Fair will be held in Milan of Italy next year. Non-resident Ambassador of Italy to Nepal Daniele Mancini pledged that he will play an effective role to strengthen economic relations between the two countries.

Also speaking during the programme, the Consul General of Italy to Nepal Ravi Bhakta Shrestha said that Italian investors could reap better returns from Nepal by investing in tourism, infrastructure, hydropower, agriculture, mines and education sectors.

President of NCC, Rajesh Kazi Shrestha requested for preferential market access for Nepali handicrafts in the Italian market and also urged for Nepali traders to be allowed hassle-free entry to participate in Italian trade fairs.

Source: THT