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  • Nepali business community, visiting delegation discuss on attracting foreign investment

    Tuesday 20th of March

    KATHMANDU, March 20 (Xinhua) -- Representatives of Nepal's business community and the visiting delegation from OBOR International Trade and Investment Platform on Monday discussed on attracting Chinese investment in Nepal under the framework of the OBOR.
       The OBOR Platform is a mutual exchange platform of global purchasers and suppliers established to promote Belt and Road Initiative also known as One Belt, One Road (OBOR), initiated by China. A delegation led by Shu Ya, founder of OBOR International Platform is currently in Nepal.
       During the meeting, representatives of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the apex private sector body of Nepal, requested OBOR Platform delegation to increase investment in Nepal's infrastructure, energy, tourism and agriculture sectors, according to a press release of FNCCI.
       FNCCI President Bhawani Rana requested the Platform to contribute Nepal's prosperity through investment under the framework of Belt and Road Initiative (BRI) as the investment climate in the Himalayan country is fine.
       Following the recent elections to elect local, provincial and federal governance structures, Nepal is expected to head towards political stability after a prolonged political transition since civil war ended in 2006.
       Rana also stressed on establishing greater connectivity among the nations who are part of the BRI. Nepal signed Memorandum of Understanding (MoU) on OBOR in May 2017.
       According to FNCCI press statement, OBOR Platform delegation proposed holding another meeting soon to identity the areas for partnership in Nepal while expressing interest to bringing foreign investment in various sectors of Nepal.
       According to FNCCI, two sides also discussed on developing entrepreneurship in Nepal, technology transfer, identification of Nepali goods that could be exported to China.
       Bhaskar Raj Rajkarnikar, chairman of Nepal Chapter of OBOR Platform told Xinhua on Monday that the delegation is set to sign an MoU with Federation of Handicraft Associations of Nepal on Wednesday in order to promote Nepali handicraft products to China under the banner of OBOR Platform. Handicraft is one of the Nepal's major exportable items to China.
       Earlier, the OBOR Platform had signed MoU with various related trade bodies to promote Nepal's Pashmina, wild honey, a Nepali wine and Himalayan Nettle (Girardinia diversifolia).
       The team has also the met with speaker of Nepal's House of Representatives, the Lower House Krishna Bahadur Mahara, Minister for Industry, Commerce and Supply Matrika Yadav and Minister for Federal Affairs and General Administration Lalbabu Pandit, according to Rajbhandari.

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