Monday, May 6, 2013

Nepal-Canada collaboration on cards

Nepal and Canada are planning to join hands in exploiting the vast potential that Nepal offers.
"There is great potential to collaborate in key sectors for our mutual benefit," said Canadian ambassador to Nepal Stewart Beck, who is leading a business mission to Nepal.
The delegation comprising representatives of Canadian companies held discussion with the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) here in the valley today on new business partnerships between the private sectors of both the countries.
"Lets capitalise the tremendous opportunity of hydropower," he said, adding that Canada is the world's second largest hydropower generator that exports the power to the US.
Beck also highlighted the regional approach on economic development. "Kathmandu is nearer to Delhi compared to Dubai," he said, asking the Canadian businessperson with their expertise to explore Nepal.
This is the right time to explore Nepal, said FNCCI president Suraj Vaidya. Asking the guests not to be discouraged by the political transition, he invited the delegation to start looking at the business potential seriously as the investors, who invests now will get the advantage.
On the occasion, Investment Board chief executive Radhesh Pant presented some of the potential investment sectors. "The country offers a huge potential in commercialisation of agriculture, tourism, hydropower, infrastructure and mining," he said, adding that the board will help the potential investors as a one window shop to facilitate them. "Nepal with its young and educated population is trying to create enhanced investment-friendly environment.”
The representatives of
Bombardier, Arcop Associates, Manitoba Hydro, IRD, Lea Associates, Ballard Power / Premiertech presented potential joint collaboration sectors during the interaction.
The delegation — that also discussed on infrastructure, including urban planning, roads, and transport, hydropower, and water and waste water sectors — also formed a Canada-Nepal Business Executive Chamber including representatives from Indo-Canadian Business Chamber (ICBC) and FNCCI to work jointly on key sectors. The chamber has Gyanendra Lal Pradhan (Hydro Solutions), Om Rajbhandari (Comfort Housing), Chandra Prasad Dhakal (Global IME Group) and Mrs Ritu Singh Vaidya (Vaidya’s Organisation of Industries and Trading House) representating Nepal and Pramod Radhakrishna (Indo Canadian Business Chamber -ICBC), Dr MP Raju (Lea Associates), and Alisa Kreynes, Manitoba (Hydro International) representing Canadian businessperson.
Likewise, chief operating officer of ICBC Nadira Hamid and FNCCI director general Dr Hemant Dawadi signed the Memorandum of Understanding to increase bilateral and multilateral engagements, on behalf of their respective institutions.
The 13-member delegation during their four-day visit will hold discussions with government officials and private sector leaders.
According to the figures, Nepal has exported Rs 780 million worth to Canada, whereas imported Rs 900 million worth merchandise in the last fiscal year. Some 25 Canadian investment projects worth Rs 2.16 billion has received approval — in the last fiscal year — which are expected to generate 2,000 employment, according to the of Department of Industry’s data.

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