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]]>Nepal has drawn a wide global attention in the recent times and as a result, the global business community has also been expressing its willingness to invest in Nepal, every now and then.
India for infrastructure development, South Korea for smart city development, US in energy and education sectors, likewise, many other countries have come forward to invest in Nepal in the recent times.
In the recent past, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Austrian Federal Economic Chamber (AFEC) have also signed a new agreement to boost business and trade ties between the two countries.
Following the trend, now the Japanese business community and Non-Resident Association (NRNA) Korea have also expressed their willingness to invest in Nepal.
“Foreigners would benefit by investing in Nepal, as the country is a gateway to reach out to markets of India, China and other South Asian countries,” says the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Bhawani Rana.
An official statement in this regard was made by the Japan Chamber of Commerce and Industry, Singapore (JCCIS) President Tochiori Takuhiro.
A 12-member JCCIS team, including eight Japanese companies that expanded their base to Singapore, has come to Nepal on November 06, 2017, to assess investment climate in the country and discuss cooperation in various sectors.
The companies in the delegation belong to various sectors such as textiles, manufacturing, tourism, banking, logistics, oil and gas.
“We are here because we see an opportunity in this country as it has young workforce and other potential to grow. Lately, the government has also started taking serious initiatives to attract Foreign Direct Investment (FDI), which is encouraging,” says Tochiori Takuhiro.
Tochiori was speaking at an interaction program organised by FNCCI on November 07, 2017.
On the occasion, Tochiori further informed that the team would meet domestic entrepreneurs of various sectors, over the next three days, to finalize the areas of cooperation.
In a recently-held meeting with the Nepali trade delegation of 14 Nepal-Korea Chamber of Commerce and Industry (NKCCI) members and 9 hoteliers, NRNA Korea has also expressed its willingness to invest in Nepal.
The Hotel Association Nepal (HAN) informed this in an official statement on November 07, 2017.
During the B2B meeting organized by Korea Trade-Investment Promotion Agency (KOTRA), officials of NRNA Korea expressed commitment to work for bilateral trade and tourism promotion,” said HAN.
According to HAN, the delegation participated in an event called G Fair Korea and has also organized a trade promotion program titled- ‘Nepal: Your Destination for Tourism and Trade’.
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]]>With an aim to boost the Nepal-Austria bilateral ties, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Austrian Federal Economic Chamber (AFEC) signed a Memorandum of Understanding (MoU) on October 31, 2017.
FNCCI President Bhawani Rana and AFEC Vice-President Richard Schenz signed the pact on behalf of both the nations and the two sides have also agreed to review the Nepal-Austria agreement formed in 1993.
The new collaboration will focus on enhancing private sector collaboration for promoting trade, commerce and technology transfer between the two countries.
“As the government has adopted a policy to create an investment-friendly environment, this agreement can benefit both countries through the exchange of knowledge, skills and technology,” said the Nepali Industry Minister Sunil Bahadur Thapa.
On the occasion, the Minister also sought Austrian investment in Nepal.
Meanwhile, Nepal’s Industry Secretary Yam Kumari Khatiwada informed that Nepal has declared tourism and infrastructure development as priority areas to facilitate Foreign Direct Investment in these sectors.
Gyanendra Lal Pradhan, Executive Committee Member of FNCCI, opined that the agreement would benefit Nepal by providing needed assistance from Austria in transportation and hydropower sectors.
Gyanendra also sought bilateral cooperation in the tourism sector to minimize the tourism costs through effective infrastructure development.
In response, Austrian Ambassador to Nepal Brigitte Oppinger-Walchshofer informed about Austrian entrepreneurs’ willingness towards investing in Nepal.
“The bilateral ties could help bolster the relationship in economic areas in the coming days,” she added.
Nepal and Austria have been enjoying cordial trade relations majorly in the areas of infrastructure development, hydropower, drinking water supply, eco-tourism development and conservation of ancient temples.
Patan Museum, Rolwaling eco-tourism, Garden of Dreams at Keshar Mahal of Kathmandu and Namche Small Hydroelectric Project are some of the notable Nepali projects completed in collaboration with Austria.
Nepal’s trade with Austria has been growing in the recent years.
According to the official data of the Trade and Export Promotion Centre, Nepal-Austria trade has grown two-fold from Rs 364.15 million to Rs 645.47 million during the 2012-16 period.
Nepal’s exports to Austria majorly include woolen carpets, paper and paper products, handicrafts, readymade garments, jewelry and silverware.
Whereas, machinery and parts and communication equipment form Nepal’s major imports from Austria.
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