KATHMANDU: Nepal Chamber of Commerce (NCC) has urged Japan to make industrial investments in Nepal. The NCC urged Japan to create an investment climate in industry, hydropower, roads and tourism sectors.
In a meeting with Japanese Ambassador to Nepal Kikuta Yutaka today, NCC President Rajendra Mall said the chamber would take initiative with the government for the Japanese investment.
“Nepal has recently made many policy reforms for foreign investment,” NCC President Malla said and added, “In next year’s budget, too, the government has announced that land will be leased for 50 years, and we are committed to securing Japanese investment.”
In the context of reducing the country’s trade deficit with Japan, Malla urged the Japanese Ambassador to open industry in Nepal for goods consumed in the country and others in high demand in the international market. President Malla said the Japanese investment would open the way to trade with India and China citing that the price of land and labour cost will be cheaper in Nepal.
Malla said NCC wanted to cooperate with the Japanese private sector. “It has been 66 years since the establishment of diplomatic relations between Nepal and Japan. Japan has been providing financial and technical assistance to Nepal through its various donor agencies including JICA,” Malla stated. He was of the view that economic relations between the two countries can be moved forward with the business activity.
He also appealed to the Japanese Ambassador to take initiative to introduce Japanese technology in Nepal’s agricultural sector.
Other officials of NCC said there is an important opportunity for international investment as Nepal has recently announced various concessions in electricity and export promotion.
On the occasion, the Japanese Ambassador said that the bilateral relations between Nepal and Japan were historic. He expressed his commitment to continue cooperation with Nepal at all economic and social levels.
He said the Government of Japan will continue supporting Nepal. Ambassador Yutaka said Nepal needs to improve its international competitiveness in order to attract Japanese investment.