Nepal attractive investment destination: CNI
KATHMANDU, FEB 12:
Nepal with its unique resources and location is an attractive investment destination for the foreign investors, according to the private sector players.
Some of the key sectors like hydropower, infrastructure, tourism, information technology, and agriculture apart from cement are potential areas and product that the foreign investors can exploit in Nepal, said Confederation of Nepalese Industries (CNI) president Narendra Kumar Basnyat in an interaction on business cooperation with Czech Republic, here in the Valley today.
These sectors and product have huge market demand but the current supply is lower, he said, adding that private sector that is vibrant and active in enhancing the economic activity in the country is ready to forge partnership with the foreign investors.
There are vast areas of potential awaiting to be exploited in agriculture sector as a commercial venture, he briefed the visiting delegation. “Likewise, industry and services sectors, that contribute around two third of the country’s gross domestic product (GDP), also have huge potential.”
The government is also committed to create business friendly environment by implementing New Industrial Policy, bringing new Industrial Enterprise Act, and Foreign Investment and Technology Transfer Act and related regulations to attract foreign direct investment, Basnyat said, adding that it has also established Nepal Investment Board to facilitate the large investors through one-window service.
Though, the volume of trade between Czech Republic and Nepal has been increasing gradually, it is in favour of the Czech Republic.
Nepal exports mainly readymade garments, handicrafts, hand-knotted woolen carpets, tea and medicinal herbs to the Czech Republic and imports constitute medicine and medical equipment, electrical goods, machinery and parts, glass beads, motor cars, bulldozer, crane and parts and foodstuffs.
In the fiscal year 2010-11, Nepal exported Rs 49.40 million worth goods, whereas imported almost four times at Rs 193.64 million worth goods from the Czech Republic.
The CNI president opined that the regular exchange of business delegation between these two countries will help boost bilateral trade. “The Czech investors had — during the B2B interaction — shown keen interest to invest in joint ventures in Nepal in the areas of water resources, alternative and renewable energy, infrastructure, food processing, construction and distribution industries,” Basnyat said.
Located between two of the worlds largest markets and preferential treaties with both countries gives Nepal duty free access, apart from Nepal’s advantage as a least developed country that is entitled to preferential trade access to many other countries.
During the interaction, ambassador of the Czech Republic to Nepal Miloslav Stašek, executive director of Alternative Energy Promotion Centre (AEPC) Prof Dr Govinda Pokharel, honorary consul of Czech Republic to Nepal Bishu Agrawal, and vice president of CNI Hari Bhakta Sharma also took part.
Source: THT
