Tuesday, October 16, 2018

Energy Minister urges Chinese entrepreneurs to invest in Nepal

Energy minister Barshaman Pun urged the Chinese entrepreneurs to invest in Nepal's hydropower sector.
Addressing an interaction on 'Nepal-China Economic Co-operation Forum: Prospects of Investment in Nepal’s Energy Sector’ – organised by Beijing-based Nepal Embassy in collaboration with China Association for International Economic Co-operation – in Beijing today, he also outlined the government's plan to develop 15000 MW of electricity in 10 years.
Shedding light on the significance of energy as a priority sector with a direct bearing on socio-economic transformation of Nepal, Pun – who is on a visit to China – underscored the key role of foreign investments in achieving the target. He also invited the Chinese enterprieneurs to utilize the opportunities for investment in Nepal’s hydropower for win-win outcomes for both countries.
On the occasion, Nepali ambassador to China Leela Mani Paudyal, said that the forum was organised with a view to facilitating dialogue between Nepali policymakers and Chinese energy companies, and for exchanging ideas and experience on further accelerating Chinese investment in the generation of hydropower in Nepal, according to a press statement issued by Nepal Embassy in China.
He also assured the full support and co-operation of the Embassy of Nepal in facilitating such investments, the statement reads. "Briefing on the investment opportunities for Chinese investors in Nepal’s hydropower sector, joint secretary at the Energy Ministry Dinesh Kumar Ghimire outlined the policies, tools, processes and facilities relating to the investment regime in the hydropower sector."
Nepal Electricity Authority (NEA) managing director Kulman Ghising, on the occasion, also highlighted the potentials of investing in Nepal’s hydropower from a regional market perspective.
"It is a most appropriate time to invest in Nepal due to the huge volume of regional and domestic demand in electricity, the robust nature of energy connectivity infrastructures in the region, seasonal complementarities for demand and supply, and the credibility of NEA as an off-taker," the statement reads quoting him.
Welcoming the Nepali delegates, vice-president of China Association for International Economic Co-operation Guo Yongle said that the interactions would promote business co-operation between the two countries and create new opportunities in further advancing Nepal-China economic co-operation.
More than hundred participants including representatives of public and private sector companies of Nepal and China, senior office-bearers of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Non-Resident Nepali Association (NRNA), Independent Power Producers Association of Nepal (IPPAN), representatives of Asian Infrastructure Investment Bank (AIIB), and media persons also took part in the programme, according to the Nepali Embassy in Beijing.
The event also witnessed presentations on Nepal’s investment climate and the prospects of hydro-electricity development in the country. 

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