The government and private sector have committed to implementing policy and procedural reforms to attract foreign direct investment (FDI), including from China.
During the Nepal-China Business Summit, held as part of Prime Minister KP Sharma Oli’s visit to China, representatives from both sectors expressed their dedication to fostering investment and urged China to increase its engagement in Nepal. The event, jointly organized by the Embassy of Nepal in China and the China Council for the Promotion of International Trade (CCPIT), focused on enhancing bilateral trade and cooperation.
Prime Minister Oli, addressing the summit as the chief guest, emphasized Nepal’s favorable investment climate. “Nepal offers numerous opportunities with high returns. Strengthening our mutual relationship will drive economic development for both nations,” he stated. Oli also reiterated the government’s commitment to protecting domestic and foreign investments, recognizing the private sector as the backbone of Nepal’s economy.
China, a key partner in Nepal’s FDI and its second-largest trade partner, presents significant opportunities for Nepali agricultural exports. Chinese Vice-Minister for Commerce Ling Ji highlighted China’s ongoing and future investments in Nepal, including efforts to streamline transit routes for Nepali trade to third countries. He also noted the duty-free provision for Nepali goods, effective from December 2024, and expressed China’s willingness to collaborate in tourism, agriculture, and aviation.
The 2024 Nepal-China Business Summit marked the second major bilateral business event, following a similar meeting in September 2023, co-organized by CCPIT and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).
FNCCI President Chandra Prasad Dhakal highlighted progress in improving Nepal’s business environment, referencing the country’s favorable credit rating as a sign of investment potential. He called for greater priority from the Chinese government in promoting Nepal as a tourism and investment destination, emphasizing its appeal to Chinese travelers.