Bilateral discussion to enhance Nepal-Vietnam economic collaboration

Hanoi (Vietnam), Dec 11: Ambassador of Nepal to Thailand and Vietnam, Dhan Bahadur Oli, has called for Vietnamese investors to increase their investment in Nepal which has huge prospects for investment. 

Attending the discussion with the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Vietnamese Chamber of Commerce and Industries (VCCI) held in the capital of Vietnam, Hanoi, he said that the diplomatic relations between Nepal and Vietnam have reached 50 years and emphasised on augmenting collaboration between the two countries for trade and investment areas. 

"Lately new challenges have emerged in the global economy. In this context, both the countries should mutually lay focus on expanding economic collaboration", he noted. There is also a potential in tourism sector between the two countries, he added. 

The Ambassador also highlighted the possibilities of trade at regional and international levels through economic collaboration between the two countries. 

He further said Nepal also has potentials for production-focused industry, ICT, pharmaceutical and herbal medicines among other sectors. 

FNCCI Chairperson Chandra Prasad Dhakal urged the Vietnamese investors to advance further economic collaboration between Nepal and Vietnam. 

“I urge Vietnamese investors to pursue economic cooperation between the two countries, noting that Nepal has huge investment potential. We assure you of our maximum efforts to utilize such opportunities,” Dhakal added.

Stating that Nepal has strong market potential for handicraft items, tea, coffee, and herbs, Chair Dhakal said that investment in these sectors could also be increased.

He noted that Nepal offers a substantial market for Vietnam’s agricultural goods, seafood, electronics, and various other products. He added that Nepal’s foreign direct investment climate is steadily improving, supported by investment-friendly laws and ongoing reforms in licensing, customs procedures, and tax administration. According to Dhakal, the government is fully aware of the needs of foreign investors and remains committed to safeguarding their investments.

Investment in Nepal especially in cable car projects, resorts, and adventure and wellness tourism has been increasing, he said, adding that they wished to welcome Vietnamese investors to Nepal.

The FNCCI President invited the Vietnamese delegation to the FNCCI’s upcoming Annual General Assembly to directly observe Nepal’s business environment.

Vietnam Chamber of Commerce and Industry Deputy Executive President Nguyen Quang Vinh said they are eager to establish additional economic partnerships with Nepal.

“We are pleased to have the opportunity to welcome the FNCCI leadership to Vietnam,” he said, emphasizing the potential for enhanced trade and investment cooperation between the two countries, adding that such cooperation will be further explored in the days to come.(RSS)