Mid-Autumn festival celebrated in Nepal

25th Sep, 2018 | Tourism Mail Crew

KATHMANDU, Sep 25: Minister for Industry, Commerce and Supply Matrika Prasad Yadav said on Tuesday that the government was committed to give equal opportunity to the investors from around the world including from China.

Calling investors from China and other countries to invest in Nepal, Minister Yadav said that Nepal's investment climate in Nepal has been far better than most other countries.

Speaking at a function organized by Xinhua News Agency, Kathmandu Bureau on the occasion of  Chinese Mid-Autumn Festival also known as Moon Festival, the Minister said that the government was ready to do whatever necessary to improve investment climate in Nepal.

Answering to those who criticize 10 year long conflict behind economic backwardness of Nepal, he said that economic progress of the countries like Sri Lanka didn't stop due to conflict and it should not be cause of Nepal too.

"In fact, Nepal has culture of doing trading instead of entrepreneurship," he said emphasizing that such culture should be reversed. "We should give priority to industries and increasing domestic production instead of trading," he added.

Responding to complaints about the bad condition of Rasuwagadhi trade route bordering China, he said that the government has been working on improving it.

Rajesh Kaji Shrestha, president of Nepal-China Chambers of Commerce and Industry said that Nepal is yet to bring large scale Chinese investment in Nepal.

"Despite much talk about growing Chinese investment in Nepal, large investment is not coming from China yet," he said.

He said that now, the Nepal has the stable government which is the supportive to invest in Nepal and the country should be able to attract large scale investment now.

Speaking on the occasion, June Zhu, site manager (Asia Pacific Division) of China CAMC Engineering Co. Ltd, which is involved in building Pokhara International Airport, said that Chinese companies in Nepal are alleviating power shortage, improving the infrastructure and promoting the progress of Nepal's communication facilities. "Each step is to improve Nepal step by step," he said.

Speaking on the behalf of Chinese entrepreneurs working in Nepal, he said that Chinese companies in Nepal have also been involved in various charity works.

On the occasion, Nepali and Chinese business community inquired about various issues faced by them while doing business in Nepal.  Mid-Autumn festival is considered as second largest festival after Chinese new year.

September 25, 2018

Xinhua News Agency, Kathmandu Bureau

Hattisar, Kathmandu

Some statistics about Nepal China economic relations

Chinese FDI commitments to Nepal

Country             FY 2015-16        FY 2016-17        FY 2017-18

CHINA (MAINLAND)    Rs6,211.8m        Rs6,326.75m    Rs46,506.94m

CHINA (HONG KONG)    Rs56.44m        Rs2,000.00m    Rs629.02m

CHINA (TAIWAN)    Rs85m        Rs110m        Rs20m

All Countries total        Rs15,139.63m    Rs15,206.46m    Rs55,650.77m

Source: Department of Industry

Nepal China Trade


Export     Rs1681.5m            Rs1701.5m        Rs2437.8m

Import    Rs115694.3m        Rs127245.0m    Rs 159636.3m

Total trade    Rs 117375.8m        Rs128946.5m        Rs162074.1m


Source: Nepal Rastra Bank


Tourist arrivals from China

Calendar Year         Number

2015                64675

2016                104005

2017                104664

2018 ( First Half)        71,379 (mainland) +4366 ( Chinese Taipai)