Chinese businessmen keen to invest in Nepal
NepalNews. com, Friday, 17 September 2010 11:11
The Chinese private sector is keen to invest in hydropower, tourism and
agricultural sectors of Nepal.
While speaking in the 11th meeting of Nepal-China Non-Government
Cooperation Forum in the capital on Thursday, Chinese ambassador to
Nepal Qiu Guohong said," Chinese hydropower companies are looking to
exploit opportunities to participate in hydropower generation in Nepal."
A high-level 40-member Chinese team has come to Nepal to attend the
forum and most of them belong to reputed businesses.
The business delegation led by the All-China Federation of Industry and
Commerce (ACFIC) first vice-chairman Quan Zhezhu, who is also a
vice-minister, has entrepreneurs from established and renowned Chinese
private companies in the areas of tourism, aviation, metallurgy, real
estate, medicines and mechanical engineering.
Nepal's potential water storage capacity stands at 83 million KW, which
is 2.3 percent of the water storage capacity all over the world, the
envoy said. Out of which, 42 million KW can be used for generating
electricity. "If the Chinese hydropower companies present in this forum
clearly understand the policies, status and opportunity for hydropower
investment in Nepal, they will not shy away from investing in the
sector," he said.
The Chinese businesspersons told their Nepali counterparts that they
were seeking to invest in hydro projects ranging from 10 MW to 500
MW. "Even the district-based small Nepali entrepreneurs can invest in
hydropower sector by forging collaboration with the Chinese," said Kush
Kumar Joshi, president of Nepalese Chambers of Commerce and Industry
ACFIC first vice-chairman Quan said that he would bring reputed Chinese
companies here to explore the new investment avenues in Nepal.
The Chinese investment in the sectors such as hydropower, mines,
agriculture, pharmaceuticals, banking and tourism among others, will
play a vital role for the development of Nepal," said Rajesh Kazi
Shrestha, chairman of Nepal China Chamber of Commerce and Industry (NCCCI).
The Nepal-China Non-Governmental Cooperation Forum was established in
1996 with the initiatives from the business organisations of the two
In 2009, the two countries' trade volume reached US$ 440 million. It
reached US$ 237 million during January to May 2010.
According to the Department of Industries, aspiring Chinese investors
registered 58 joint venture industries with a total project cost of Rs
731.25 million last fiscal year, against 27 JVs from India, reports said.
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