| June 27, 2019

NCCCI, CCPIT sign MoU to promote investment in Nepal

NCCCI, CCPIT sign MoU to promote investment in Nepal
KATHMANDU, May 27: Nepal-China Chamber of Commerce and Industry (NCCCI) and China Council for Promotion of International Trade (CCPIT) have signed a Memorandum of Understanding (MoU) to bring Chinese investment in Nepal.

Tribhubandhar Tuladhar, vice president of NCCCI and Gao Shuqian, CCPIT consultant for Gansu Province of China, signed the agreement on behalf of their respective organizations.
A 13-member CCPIT team, which is currently in Nepal, also signed different MoUs with several other Nepali organizations to promote hydropower, solar energy, tourism, copper mining, logistic business and cooling houses in Nepal.

While Gansu Electric Power Investment Group Company Ltd of China and Nepali firm PK Associates have signed an agreement to promote investment in hydropower sector of Nepal, Jinchuan Group Company Ltd and S2 Solar Power have signed a pact to harness solar energy in Nepal.

Similarly, Gansu Provincial Highway Aviation Tourism Investment Group Co Ltd and Destination Management Tour and Travels Pvt Ltd of Nepal have agreed to work together for tourism promotion in Nepal. Likewise, Jinchuan Group Co Ltd of China and Asiatic International Trading Pvt Ltd of Nepal have signed agreement to promote logistic businesses in Nepal.

Addressing the signing ceremony, Rajesh Kaji Shrestha, chairman of NCCCI, said that Gansu has become an important Chinese province for Nepal for trade especially after China started combined transport service to Nepal on March 13.

An international freight train departed from Gansu for Nepal on March 13.

"Nepal is still an unexplored country for big investments. Investors can put their money into different sectors," Shrestha said, adding: "Chinese traders can reap huge benefits by investing in sectors like tourism, construction, agriculture and hydropower."

Informing that Nepal was demonstrating its products and services through a fair in China in July, Shrestha urged Chinese trade delegation to put Nepal into priority and help to promote its products and services in China.

Speaking on the occasion, Zhang Fukul, deputy director of Commission of Industry and Information Technology of Gansu Province who is also the leader of the visiting Chinese trade delegation, said that they were in Nepal to assess investment environment in sectors like tourism, construction and agriculture, among others. "We are confident that the team finds things friendly here and brings investments to this country," said Fukul.