China wants to share its prosperity with neighbours, says envoy

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    KATHMANDU, JUN 01 –

    chinaChinese Ambassador to Nepal Wu Chuntai on Friday said China wants to share its prosperity with its neighbours. “We encourage our private sector to invest in Nepal,” said Wu.

    Stating the Chinese private sector is eager to invest in tourism and hydropower in Nepal, Wu said Nepal holds great attractions for Chinese visitors because of its climate and hospitality. According to Wu, tourism could be a good means for Nepal to narrow the widening trade deficit between the two countries.

    In the last few years, there has been a substantial increment in Chinese tourist arrivals in Nepal. Visitors from the northern neighbour have been the second largest foreign travellers in the country in the last three years.

    Stating the new political leadership in China attaches great importance to Nepal, Wu said, “Pushpa Kamal Dahal was the first South Asian leader to visit China after the leadership

    change in China , but China plans to have good relations with all parties,” he said during the official launch of China Daily Asia Weekly in Nepal which comes every Friday in conjunction with Nepali Times weekly.

    At a seminar on “ China -Nepal Investment, Trade and Tourism Economic Relations between China and Nepal” after the launch programme, speakers stressed on Nepal’s readiness to engage with China .

    Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Suraj Vaidya said Nepal needs to “get its politics right” first. “Chinese investors are eager to invest in Nepal

    in hydropower, tourism and agriculture. Is Nepal ready to take investors?”

    Vaidya asked.

    Stating Nepal needs to find out what Chinese investors are looking for, Vaidya said Nepal needs to make its door more open. “Foreign direct investment (FDI) is still barred in poultry and agriculture,” he said.

    With FDI from China increasing, Investment Board Nepal (IBN) CEO Radhesh Pant said there are a lot of opportunities for Chinese companies

    in Nepal and IBN is ready to fast-track projects.

    China is fast becoming one of the major players in foreign investment in Nepal, with presence in hospitals, hotels, construction, airports and hydropower sectors. Of late, Chinese companies are emerging as major players in the country’s hydropower sector with China Three Gorges International Corporation developing the 750MW West Seti Project. And, Chinese contractors have almost a monopoly in infrastructure projects, especially hydropower.

    SN Power Country Director, Sandeep Shah asked the Chinese investors to invest in Nepal’s energy sector, stating both China and India could equally benefit from Nepal’s hydropower development.

    Source : The Kathmandu Post