Nepal with its unique
resources and location is an attractive investment destination for the foreign
investors, according to the private sector players.
Some of the key sectors
like hydropower, infrastructure, tourism, information technology, and
agriculture apart from cement are potential areas and product that the foreign
investors can exploit in Nepal, said Confederation of Nepalese Industries (CNI)
president Narendra Kumar Basnyat in an interaction on business cooperation with
Czech Republic, here in the Valley today.
These sectors and
product have huge market demand but the current supply is lower, he said,
adding that private sector that is vibrant and active in enhancing the economic
activity in the country is ready to forge partnership with the foreign
investors.
There are vast areas of
potential waiting to be exploited in agriculture sector as a commercial
venture, he briefed the visiting delegation. "Likewise, industry and
services sectors, that contribute around two third of the country's gross
domestic product (GDP), also have huge potential."
The government is also
committed to create business friendly environment by implementing New
Industrial Policy, bringing new Industrial Enterprise Act, and Foreign
Investment and Technology Transfer Act and related regulations to attract
foreign direct investment, Basnyat said, adding that it has also established
Nepal Investment Board to facilitate the large investors through one-window
service.
Though, the volume of
trade between Czech Republic and Nepal has been increasing gradually, it is in
favour of the Czech Republic.
Nepal exports mainly
readymade garments, handicrafts, hand-knotted woolen carpets, tea and medicinal
herbs to the Czech Republic and imports constitute medicine and medical
equipment, electrical goods, machinery and parts, glass beads, motor cars,
bulldozer, crane and parts and foodstuffs.
In the fiscal year
2010-11, Nepal exported Rs 49.40 million worth goods, whereas imported almost
four times at Rs 193.64 million worth goods from the Czech Republic.
The CNI president opined
that the regular exchange of business delegation between these two countries
will help boost bilateral trade. "The Czech investors had — during the B2B
interaction — shown keen interest to invest in joint ventures in Nepal in the
areas of water resources, alternative and renewable energy, infrastructures,
food processing, construction and distribution industries," Basnyat said.
Located between two of
the world’s largest markets and preferential treaties with both countries gives
Nepal duty free access, apart from Nepal's advantage as a least developed
country that is entitled to preferential trade access to many other countries.
During the interaction,
ambassador of the Czech Republic to Nepal Miloslav StaĊĦek, executive director
of Alternative Energy Promotion Centre (AEPC) Prof Dr Govinda Pokharel,
honorary consul of Czech Republic to Nepal Bishu Agrawal, and vice president of
CNI Hari Bhakta Sharma also took part.
Nepal's trade with Czech
Republic
Fiscal Year — Export —
Import
2001-02 — Rs 16.88
million — Rs 68.18 million
2002-03 — Rs 13.97
million — Rs 38.75 million
2003-04 — Rs 24.94
million — Rs 122.17 million
2004-05 — Rs 25.28
million — Rs 55.37 million
2005-06 — Rs 68.99
million — Rs 62.25 million
2006-07 — Rs 48.60
million — Rs 129.06 million
2007-08 — Rs 59.60
million — Rs 55.50 million
2008-09 — Rs 49.92
million — Rs 97.41 million
2009-10 — Rs 51.52
million — Rs 96.88 million
2010-11 — Rs 49.40
million — Rs 193.64 million
(Source: Trade and
Export Promotion Centre)
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