Assure Chinese investors: FNCCI president

Nepali businessmen have urged the government to create conducive environment and provide guarantee to secure Chinese investments in Nepal. The Nepali government should issue such guarantee so as to reap benefits of the deep interest that the Chinese investors have shown in investing in Nepal, said Kush Kumar Joshi, president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI).

The government should assure potential Chinese investors that they will get conducive business environment in Nepal and they won´t have to face unnecessary hurdles while doing business in Nepal, Joshi said. Joshi also demanded with the government to involve private sector in understanding and decisions reached between the two countries. "The implementation of the decision reached at the government level has been weak due to lack of private sectors´ participation in the discussion stage," Joshi added and expressed his unhappiness over the lack of consultations with the private sector while setting ongoing Prime Minister´s visit to China.

We have not been able to offer attractive investment schemes to potential Chinese investors because we lacked necessary homework, he added. Joshi also underlined that the due proposed aid commitment made buy China in the past has been delayed due to lack of capacity on the part of the government to implement agreed projects.

China had committed to provide concession loan worth Chinese Yuan 200 million some four years back but the government has not been able to realize the loan amount as it has not yet finalized the projects to be financed.
Source:Republica