KATHMANDU: The Embassy of Nepal in Beijing, in collaboration with China Overseas Development Association (CODA), organized an interaction program on “Investment Opportunities in Energy Sector of Nepal” on Wednesday in the Embassy premises.
The main objective of the program was to disseminate information about prospects of investment particularly in the energy sector of Nepal, the Embassy of Nepal in Beijing said in a press release.
Delivering the welcome remarks, Ambassador of Nepal to the People’s Republic of China, Bishnu Pukar Shrestha, shed light on the importance of foreign investment in energy sector of Nepal while highlighting Nepal’s national goal of graduating from the least developed country in 2026 and becoming a middle-income country in 2030.
Informing about technical feasibility of generating 43000 MW of hydroelectricity, the Ambassador stated about the profuse opportunities of investment in hydroelectricity generation, power transmission lines, and other related areas in Nepal.
Shrestha not only mentioned about the conducive and investment-friendly environment of Nepal including the existing legal and institutional policy paradigms, but also invited Chinese investors to invest in various sectors, particularly in the energy sector.
Addressing the program, Mr He Zhenwei, President of CODA, expressed satisfaction over the joint cooperation in organizing a promotional program contributing to the investment in Nepal.
The Program featured online presentations from the Investment Board of Nepal (IBN), the Ministry of Energy, Water Resources and Irrigation of Nepal (MOEWRI) and the Nepal Electricity Authority (NEA); experience sharing by the Power China, and a brief remark by Asian Infrastructure Investment Bank (AIIB),
In his presentation, Amrit Lamsal, Joint Secretary, IBN, focused on various aspects of the overall investment climate and opportunities when he underscored the importance of collective efforts of private sectors and government for the promotion of investment in energy sector of Nepal.
Joint Secretary, MOEWRI, Madhu Prasad Bhetuwal, made overview of the mechanisms in power sector and highlighted on the recent initiatives on power trade and their modalities. Similarly, Prabal Adhikari, Director of NEA, delivered about the prospects of energy trade, emphasizing the present and future plan for energy supply and consumption in Nepal. Dr Kishor Uprety, Senior Legal Advisor, AIIB, presented about challenges and opportunities in financing hydropower projects in Nepal with special focus on the legal aspects.
On the occasion, Tong Gang, Chief Manager at Investment and Financing Department I of the Power China International Group Ltd, shared about the success experience of investing in Nepal along with the best practices and lessons learnt.
Power China has been involved in 11 energy projects, five infrastructure projects and three water resource projects in Nepal, he informed. Gang stressed on the need of the joint efforts of the government and international business community for the development of hydropower projects in Nepal.
The Ambassador handed over a certificate of appreciation to the President of CODA for their support in organizing the program. A vote of thanks was delivered by Chhabindra Parajuli, Minister (Economic) of the Embassy.
The event was held in hybrid format and was attended by government officials from the authorities of both Nepal and China, Chinese investors, business representatives, entrepreneurs, media persons, officials from the Nepali Consulate General in Hong Kong, Guangzhou, Chengdu and Lhasa, FNCCI representatives, and officials from the Embassy.
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