Nepali embassy in Beijing holds interaction on investment opportunities in Nepal

KATHMANDU: The Embassy of Nepal in Beijing, in collaboration with China Overseas Development Association (CODA), organised an interaction programme on ‘Investment Opportunities in Energy Sector of Nepal’. The main objective of the programme held on the premises of the embassy on Wednesday was to disseminate information about prospects of investment, particularly in the energy sector in Nepal, the Nepali Embassy said in a press statement. Delivering the welcome remarks, the Ambassador of Nepal to the People's Republic of China, Bishnu Pukar Shrestha, shed light on the importance of foreign investment in the energy sector in Nepal while highlighting Nepal's national goal of graduating from the least developed country in 2026 and becoming a middle-income country in 2030. Informing about the technical feasibility of generating 43,000MW of hydroelectricity, Ambassador Shrestha stated about the profuse opportunities of investment in hydroelectricity generation, power transmission lines, and other related areas in Nepal. Shrestha briefed about the conducive and investment-friendly environment of Nepal including the existing legal and institutional policy paradigms. He also invited Chinese investors to invest in various sectors, particularly in the energy sector. Addressing the programme, He Zhenwei, President of CODA, expressed satisfaction over the joint cooperation in organising a promotional programme contributing to the investment in Nepal. The programme featured online presentations from the Investment Board of Nepal (IBN), the Ministry of Energy, Water Resources and Irrigation (MoEWRI) and the Nepal Electricity Authority (NEA); experience sharing by Power China, and a brief remark by Asian Infrastructure Investment Bank (AIIB), Amrit Lamsal, Joint Secretary, IBN, made a presentation focusing on various aspects of the overall investment climate and opportunities. He emphasized the importance of collective efforts of private sector and government for the promotion of investment in energy sector of Nepal. MoEWRI Joint Secretary Madhu Prasad Bhetuwal made an overview of the mechanisms in the power sector and highlighted the recent initiatives on power trade and their modalities. Similarly, NEA Director Prabal Adhikari delivered the prospects of energy trade, emphasizing the present and future plans for energy supply and consumption in Nepal. Kishor Uprety, Senior Legal Advisor, AIIB, made a presentation about challenges and opportunities in financing hydropower projects in Nepal with a special focus on the legal aspects. On the occasion, Tong Gang, Chief Manager at Investment and Financing Department I of the Power China International Group Ltd, shared about the successful experience of investing in Nepal along with the best practices and lessons learnt. Power China has been involved in 11 energy projects, five infrastructure projects and three water resource projects in Nepal, he informed. Gang stressed the need for the joint efforts of the government and international business community for the development of hydropower projects in Nepal. Ambassador Shrestha handed over a certificate of appreciation to the President of CODA for their support in organising the programme. A vote of thanks was delivered by Chhabindra Parajuli, Minister (Economic) of the Embassy. The event was held in hybrid format and was attended by government officials from the authorities of both Nepal and China, Chinese investors, business representatives, entrepreneurs, mediapersons, officials from the Nepali Consulate General in Hong Kong, Guangzhou, Chengdu and Lhasa, representatives of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), and officials from the embassy. READ ALSO:

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