Nepal, China To Establish Industrial Park In Chitwan

Nepal, China To Establish Industrial Park In Chitwan

KATHMANDU, Sept 8 (NNN-NEPALNEWS) – Nepal and China are planning to establish an industrial park in Chitwan, a southern district in central Nepal, with the aim of developing the area as a hub of comprehensive industrial manufacturing and processing centre.

The Embassy of Nepal to China and the Economic Joint Committee of China Commercial Stock Enterprises jointly organised the programme, Nepal-China Economic and Trade Cooperation Forum 2019, here, a day ahead of the planned visit of Chinese Foreign Minister, Wang Yi to Nepal today (Sunday).

It is the second such event organised after the first was held in April in Beijing, during the state visit of Nepali President, Bidya Devi Bhandari to China.

If everything goes well, it will be the second industrial park to be developed with Chinese cooperation, after the first one is being developed in eastern Jhapa district, hometown of Nepali Prime Minister, KP Sharma Oli.

Chinese investors pledged the highest FDI to Nepal four years in row, as the country received more than half of its total FDI pledges from its northern neighbour in the last fiscal year 2018-19 that concluded in mid-July.

According to Nepal’s Department of Industry, Nepal received FDI commitment of 114 million U.S. dollars from China in the last fiscal, while total FDI pledges from around the world stood at 216 million U.S. dollars.

Nepali Minister for Industry, Commerce and Supply, Matrika Prasad Yadav, said, the establishment of one industrial park will attract investors in establishing similar parks.

“My ministry is ready to provide necessary support to such projects,” he added.

During the event, inaugurated by Nepali Vice President, Nanda Bahadur Pun, chief ministers of various provinces presented investment opportunities in their provinces, calling on the Chinese to invest in their provinces.

They also committed favourable environment for foreign investors, as they wish to attract as much investment as possible in their respective provinces.– NNN-NEPALNEWS


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