Beijing- In its attempt to lure more Chinese investors and enterprises in Nepal as well as to prod the Chinese investing firms for their participation in the upcoming Nepal Investment Summit scheduled next month, the Embassy of Nepal in Beijing organised a pre-summit conference on Nepal Investment Summit on Monday.
In the pre-summit, Chief Executive Officer (CEO) of Investment Board of Nepal Maha Prasad Adhikari, Ambassador of Nepal to China Leela Mani Paudyal and Nepal’s Deputy Chief of Mission in China Sushil Kumar Lamsal addressed the concerns of Chinese investors, business leaders and academics about profit repatriation system, law and order situation, corporate governance and legal measures existing in Nepal.
On the occasion, CEO Adhikari urged the Chinese investors to make their investment in Nepal saying that Nepal has a strong and stable government in place with special focus on economic transformation.
“Nepal has ensured protection of investment, laws have been changed making them investment-friendly and repatriation of dividend is fully guaranteed. The investors will not get any trouble while doing business in Nepal,” CEO Adhikari said.
Many laws including Company Act, Industrial Enterprise Act, Special Economic Zone Act, and many other laws have been amended making them more functional while PPP and Investment Act and Foreign Investment and Technology Transfer Act are in the process of amendment, Adhikari added.
Expecting Chinese investors’ arrival in Nepal, CEO Adhikari shared some lucrative sectors including agriculture, banking and finance, education, energy, health, tourism and mines and minerals for investment in Nepal.
Stating that Nepal is a place of opportunities, Adhikari asked the Chinese investors to plan their projects in Nepal and promised to provide all sorts of assistance to streamline their investment.
“You are not only investing but also promoting Nepal’s dream for prosperity and getting benefits out of your investments. I call upon the Chinese investors to join our prosperity agenda by participating in the Nepal Investment Summit 2019,” the IB Nepal CEO said.
On the occasion, Ambassador Paudyal said that the Government of Nepal is organising the Summit on 29 and 30 March with a view to promoting Nepal as an investment destination. He said that the Summit will showcase new investment opportunities and the ongoing process of economic and structural reforms in Nepal.
Ambassador Paudyal added that this is the best time for making decision to invest in Nepal, and shared that Nepal has achieved long-sought political stability and has resolved political problems in a democratic manner.
“To tap the opportunities provided by a peaceful and stable political climate, business-friendly policies and laws and institutions have either already been enacted or are in the process of finalisation,” Ambassador Paudyal assured the concerns of Chinese investors.
The programme witnessed the presence of over 120 participants from China’s renowned investment companies and academic institutions.
Likewise, representatives of two Chinese companies also shared their experiences while doing investment cum business in Nepal and urged other Chinese firms to invest in Nepal since there is immense potential and high chance of early returns.
Meanwhile, talking to RSS Yolanda Li of International Cooperation Department of China International Cooperation Centre for SMEs said that she was encouraged to invest in Nepal from the pre-investment summit adding that she got many ideas about investment opportunities in Nepal.
“It’s good to know that Nepal is making so many reforms in its laws and legal framework to make them investment-friendly. That’s exciting,” she viewed.