FNCCI pitches business opportunities to China

KATHMANDU, JUN 10 -

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged China to invest in hydropower, tourism infrastructure and information technology where Nepal has competitive and comparative advantages.

Speaking at the Second China South Asia Business Forum in Kunming, China, FNCCI President Pradeep Jung Pandey said that Nepal’s huge potential in hydropower generation and growing energy needs of South Asia and increased Chinese outbound tourists in Nepal were opportunities for Chinese investors.

Likewise, employing Nepali professionals in information technology makes it an attractive sector for investment since they cost less than in other countries in the neighbourhood, he added.

With the number of Chinese tourists to Nepal growing rapidly in recent years, Pandey said that Chinese investors could invest in Nepal’s tourism infrastructure in order to cater to them. “Chinese investors can assist Nepal in developing its tourism infrastructure and tourism human resources such as international airports, quality hotels, tourism education institutes and so on,” he added.

Chinese arrivals to Nepal are estimated to have crossed the 100,000 mark recently. The number of visitors from the northern neighbour amounted to a mere 7,139 persons about a decade ago. Pandey also stressed that a Buddhist Religious Circuit could be implemented immediately between China and South Asia to promote tourism in the region.

Similarly, with regard to investing in the IT sector, Pandey said that investors could hire 166 professionals in Nepal with $ 100,000 while in India they would be able to hire just 41 professionals with the same amount of money.

“Therefore, the IT sector is a promising area where Nepali and Chinese businesses could cooperate for mutual benefit,” he added.

The FNCCI president also sought Chinese assistance for infrastructure development to boost Nepali exports to China and reduce its huge trade deficit. He highlighted the need for building cross-border highways, modernization of customs points and mutual recognition of quality standard for trade facilitation.

Pandey showed the possibility of extending China’s proposed railway service to South Asia through Nepal. “It could facilitate vital overland trade between these economic giants,” he said.

Source: The Kathmandu Post