Nepali, Vietnamese businessmen discuss expanding economic ties

By A Staff Reporter,Kathmandu, Dec. 12: On the occasion of the 50th anniversary of diplomatic relations between Nepal and Vietnam, Nepali and Vietnamise businessmen have discussed expanding economic ties.

In a discussion with the Vietnam Chamber of Commerce and Industry in Hanoi, Vietnam, on Thursday, Nepali businessmen have urged investors to invest in Nepal, citing the great potential for investment in tourism, hydropower, agriculture and other sectors.

According to a press statement of FNCCI, FNCCI President Chandra Prasad Dhakal urged Vietnamese investors to further advance economic cooperation between Nepal and Vietnam.

Noting that Nepal and Vietnam have completed 50 years of diplomatic relations, President Dhakal emphasised the need to advance economic cooperation between the two countries. 

“There is great potential in the field of economic cooperation between the two countries. I would like to urge Vietnamese investors to invest in Nepal as there is great potential for exports from Nepal,” he said. 

“As there is a good market potential for products such as handicrafts, tea, coffee, and herbs in Nepal, I want to urge you to increase investment in that direction as well," he said.

He said that the economies of the two countries can complement each other. 

He said that Vietnam has potential in the Nepali market for agricultural products, seafood, and electronics.

 “The environment for foreign direct investment is developing in Nepal, the laws are also investment-friendly, there have been improvements in licensing, customs, and tax administration, and the government is also aware of the security of foreign investment,” he said.

Stating that regional investment is increasing in the tourism sector in Nepal, especially in hotels, resorts, cable cars, adventure tourism, and wellness centres, he said that he wanted to welcome Vietnamese investors.

He invited the Vietnamese team to participate in the upcoming annual general meeting of the Federation and to observe the business environment of Nepal firsthand.

Nguyen Quang Vinh, Deputy Executive Chairman of the Vietnam Chamber of Commerce and Industry, said that they are also interested in further economic partnership with Nepal. 

Stating that they are happy to welcome the delegation of FNCCI to Vietnam, Vinh stressed the need to further strengthen the economic partnership, noting that there is great potential in the fields of investment and trade between the two countries. 

“There is no great cooperation between the two countries in the fields of trade and investment, although there is great potential for cooperation in this field, and our cooperation will continue in the coming days,” Vinh said.

On the occasion, Nepali Ambassador to Thailand and Vietnam Dhan Bahadur Oli urged Vietnamese investors to increase their investment in Nepal. 

Stating that Nepal and Vietnam have reached the 50th anniversary of the establishment of diplomatic relations, he stressed that both countries should make good use of the potential in the fields of trade and investment.