Nepal finds prosperity through foreign investment

Nepalese ambassador to China said on Friday that China has generously offered resources for common prosperity in the region under the One Belt and One Road initiative to develop "communities of shared future".

Lela Mani Paudyal said this at a seminar on investment opportunities in Nepal, the fourth of a series of promotional programs in tourism, trade and investment over the past three months, according to the press release from the Nepalese embassy in Beijing.

The country's economy suffered after an 8.1-magnitude earthquake in 2015, and the government has been seeking foreign investment.

Paudyal urged Chinese investors to take advantage of the bilateral relationship, Nepal's abundant natural resources and government's preferential policies for foreign investment.

"China has immensely developed its technical and human capability including infrastructure and energy," the ambassador said.

He also advised Chinese entrepreneurs to connect Nepalese products and services in Chinese markets through their value chain or translocate their manufacturing bases to Nepal.

Sun Heping, former Chinese ambassador to Nepal, encouraged seminar participants to invest in the energy sector, since "the government has issued many preferential policies to attract foreign investment".

Altogether 64 entrepreneurs representing different associations from various Chinese provinces participated in the seminar.

Fifty-one of them from 18 enterprises have shown their interests in participating in the Nepal Investment Summit to be held on March 2-3 in Kathmandu.