US ambassador to Nepal, Peter W Bodde hosted a conference call with US businesses on Tuesday to discuss opportunities in the hydropower sector in Nepal, said a statement issued by the US embassy today.
Twelve participants, representing various industries including energy and infrastructure, joined the call. Some of them had a previous history of investing in Nepal.
Ambassador Bodde gave an overview of the economic and business climate in Nepal and then took participants’ questions, including queries about the upcoming hydropower summits in Kathmandu and how the US Embassy can assist American companies investing in Nepal, added the statement.
Many American companies have expressed interest in investing in hydropower in Nepal.
Although challenges remain, Ambassador Bodde pointed out that Nepal has the second- largest hydropower resources in the world and less than 1% of this potential has been developed so far.
He emphasized that the US Embassy stands ready to assist American companies interested in investing in Nepal.
“Nepal has enormous hydropower potential and the time to engage with this sector is now,” said the ambassador.