FinMin calls for more Chinese capital in Nepal’s dev endeavours
KATHMANDU, AUG 29 -
Finance Minister Ram Sharan Mahat has called for more Chinese state and private capital in Nepal’s development endeavours at a time when China has been making investments all over the world.
Speaking at the launching of the Nepal-China Contemporary Study Council on Thursday held under the aegis of the Nepal-China Chamber of Commerce and Industry, he said, “We see China’s state and private capital as sources of Nepal’s development particularly in infrastructure, social entrepreneurship, tourism, agro-based industries and hydropower.”
Mahat, who recently met with senior Chinese government officials including his counterpart and Commerce Minister in Beijing, had made a similar request to them there. He said that he hoped the traditional ties between Nepal and China would grow even stronger in the future. “The spill-over effect of the Chinese economy will help us to boost our economy too,” he added. During meetings with officials in China, they urged Mahat to open up the Nepali economy further by promoting entrepreneurship and expanding skills and technology. “Growth should not be stipulated. Nepal should open up more in the business and investment sectors. That is one very important lesson I learned,” he added.
Hailing the unprecedented growth in the Chinese economy since the last 40 years that is now being interpreted, analyzed and discussed globally, Minister Mahat said that it was due to the contribution of Chinese civilization and Chinese characteristic of socialism.
Mahat said, “The reason behind the success of the Chinese economy is not having periodic elections. We are overloaded with meeting people’s aspirations and popular demands due to periodic elections. If there were no periodic elections, the government could set a target and plan long-term projects and programmes and execute policies to create a conducive environment for long-term growth.” The 40-year-long success story of Chinese economics is also based on these facts, he added.
Similarly, addressing the function, Chinese Ambassador to Nepal Wu Chuntai said that China’s new leadership had accorded high priority to relations with Nepal and sought a win-win policy with Nepal.
Ambassador Wu also called on Nepal to join the China-initiated economic belt and 21st century Silk Road. The new Chinese leadership, particularly President Xi Jinping, has proposed to build an economic belt along the ancient Silk Road that brings Asia and Europe together and the Maritime Silk Road with neighbours to boost common development. “We welcome friendly neighbours like Nepal to join this economic belt and 21st century Silk Road,” he said. “The people of Nepal are also committed to making the country’s new constitution and wish for economic development after completing the transitional period. It can be said the people of Nepal have a Nepali dream.”
Presenting a paper entitled Xi’s New China Wakes Up the World at the same programme, Tsinghua University dean Prof Li Xiguang said, “China did not throw itself into endless fights among political parties in the name of democracy. China is not only changing the global economy, it also poses a challenge to Western democracy in its own mode.”
He added many had seen China’s unique development as a model to follow, and China’s advocacy of political values, patterns of social development and foreign policies would have a growing influence on the international community.
Source: The Kathmandu Post
