Vice President Yadav urges China for more investment in Nepal

By A Staff Reporter,Kathmandu, Aug. 18: Vice President Ramsahay Prasad Yadav highlighted the need for advancing the bilateral economic cooperation and invited China to invest in trade, tourism, infrastructure, connectivity and hydropower sectors of Nepal. 

Vice President Yadav said so while delivering a speech at the opening ceremony of the 7th China South Asia Expo and 27th China Kunming Import and Export Fair organised by the Ministry of Commerce and the People’s Government of Yunnan Province of China on Thursday. 

Issuing a statement, Embassy of Nepal, Beijing informed that prior to the Expo, Vice President inaugurated the Nepal pavilion that showcases Nepali products. 

In his remarks, the Vice President invited the Chinese businessmen to visit the pavilion so that more B-to-B interaction could take place to foster the economic partnership between the private entrepreneurs of Nepal and China. 

On the sidelines of the Expo, Minister for Foreign Affairs of China Wang Yi called on the Vice President. In the meeting, matters of bilateral interest were discussed, the statement read. 

Following the inaugural ceremony, Minister of Education, Science and Technology Ashok Kumar Rai addressed the 4th Forum on China-South Asia Technology Transfer and Collaborative Innovation. 

While shedding light on the initiatives taken in Nepal for the development of technology and innovations, Minister Rai underscored the need and importance of technology transfer to the countries like Nepal. 

Similarly, Foreign Secretary Bharat Raj Poudyal held a bilateral meeting with Vice Governor of the Yunnan Province of China Wang Hao on the sidelines of the Expo.

In addition, Secretary of Industry, Commerce and Supply Madhu Marasini attended and addressed the 4th China-South Asia Business Forum. 

Vice President Yadav also attended the welcome banquet hosted in honour of the visiting dignitaries and delegations by the Ministry of Commerce of China and the People’s Government of Yunnan Province on August 15, the statement added. 

Meanwhile, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal emphasised Nepal's burgeoning stature as a promising investment destination, underpinned by its wealth of natural resources, skilled workforce, market access and advantageous trade agreements. 

Addressing China (Yunnan)-Nepal Industrial Cooperation Promotion and Enterprise Matchmaking Meeting held as part of the China-South Asia Business Forum on Thursday, Dhakal said, "Nepal's wealth of natural resources, educated workforce, market access and preferential trade agreements with China and India make Nepal a promising investment destination." 

According to a press statement issued by his secretariat, Dhakal lauded the sister city relationship between Kunming and Nepal's Pokhara, characterised by agreements promoting cultural exchange, tourism, and research and development collaboration.