NEPAL > Chinese Investors Come Together to Form Association in Nepal

KATHMANDU, Aug 16 (Bernama) — China’s businessmen and investors in Nepal held a conference and formed an association to jointly pursue and protect the interests of Chinese nationals’ investors in Nepal.

The conference formed the “Chinese Enterprises Association of Nepal” (CEAN), a statement of the Chinese Economic Counsellor’s Office said Tuesday.

“All the Chinese investors in Nepal participated in the conference in which China’s Ambassador to Nepal Wu Chuntai was the main attraction,” said the statement.

Ambassador Wu said that Chinese enterprises needed to further expand their business scope in Nepal and expressed optimism that Chinese enterprises can make positive response to the state ‘along the way’ and ‘interoperability’ strategy, carry forward the ‘seize the day’ spirit, and further promote the development of Chinese enterprises in Nepal, it said.

The CEAN’s head Yuan Zhixiong said that the conference discussed comprehensively on issues pertaining to enterprises’ investment in Nepal, project contracting, communications, trade and business development.

More than 200 companies have invested in Nepal, mostly in hotels, restaurants and agriculture.

China has committed US$57 million foreign direct investment in Nepal for the current fiscal year, which is the largest FDI commitment made by any country in Nepal.

Nepal and China are neighbours sharing a 1,400 kilometers long border. Its bilateral trade is rising in recent years as Nepal has recently tried to diversify its foreign trade with China in a move to reduce trade imbalance with India.

Nepal’s trade with India occupies almost 70 per cent of its total foreign trade, while trade with China is less than 10 per cent of foreign trade.

Source: http://www.bernama.com.my/bernama/v8/wn/newsworld.php?id=1273677