Chinese entrepreneurs seek investment proposals

Visiting Chinese entrepreneurs asked Nepali counterparts to bring investment proposals that will benefit both countries. Chinese entrepreneurs want to invest in sectors that have competitive advantage, said vice secretary of Guangdong Provincial Council Yao Hengyin in a meeting with senior vice president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Bhaskar Raj Rajkarnikar.

"We want security of our investment. Nepal must assure us on it," said Hengyin. Similarly, vice president of China Council for Promotion of International Trade Luo Bingzhi said that Chinese investment in Nepal could reduce the trade deficit between the two countries. Nepal must introduce programmes to reduce the trade deficit. The Chinese private sector is ready to join hands, he added.

Trade deficit between Nepal and China was at around $621 million in 2011. The Chinese team also urged Nepali entrepreneurs to take benefit from duty exemption in exporting Nepali goods to China. The northern neighbour has granted custom duty exemption in over 4,721 goods.

In the meeting, FNCCI handed over an invitation to Chinese entrepreneurs to participate in the second International Trade Fair to be held in Kathmandu, in March next year.