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Offering Investments In Nepal
By KTM Metro Reporter
April 6, 2012: President of Confederation of Indian Industry (CII) B. Muthuraman leading a delegation of CEOs to Nepal to attend the 46th Annual General Meeting (AGM) of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) held on April 5-7, 2012 has conveyed the offer made by the CII for all help for Nepal's economic development according to the news posted on twocircles.net.
President of CII Muthuraman was the guest of honor and keynote speaker at the AGM, and Nepalese Prime Minster Baburam Bhattarai was the chief guest. The CII delegation also called on Nepalese President Ram Baran Yadav, Prime Minister Bhattarai and Industry Minister Anil Kumar Jha; during their meetings, Muthuraman reiterated CII's commitment to participate in Nepal's development process; he told Nepalese Prime Minister Bhattarai that the CII would be happy to market in India the 50 projects identified for investments in Nepal according to a CII press release.
Nepal is the second richest country in the world in terms of hydropower resources. Several Indian companies are interested in participating in Nepal's hydropower development process.
"China is committed to providing a wide range of developing assistance in terms of economic development, man-power training, and social development to Nepal," said Chen Zhili, vice chairwoman of the Standing Committee of the 11th National People's Congress of China. "The Chinese government is committed to the development of comprehensive partnership with Nepal", Chen, also the president of the All-China Women's Federation, made the remarks while meeting with Nepalese President Ram Baran Yadav in Kathmandu on Thursday, April 05, 2012, the Chinese state-news agency Xinhua writes in the English.peopledaily.com. Chen Zhili arrived in Kathmandu on Monday, April 02 on a five-day visit to Nepal at the invitation of Vice-Chair of the Constituent Assembly Purna Kumari Subedi.
Nepal has extended a warm welcome to more Chinese hydropower companies to invest in projects worth US$400 billion following the approval of a US$1.8 billion contract to China Three Gorges Corp, the chinapost.com reports. “In terms of capital, nobody can compete with China,” Binod K. Chaudhary member of Nepal's constituent assembly and parliament told reporters on Tuesday, April 03 on the sidelines of the Boao Forum for Asia held in the Hainan province of China. The Nepalese government has just approved China Three Gorges Corp. to undertake the US$1.8 billion West Seti River hydropower project. The 750-megawatt plant has opened a “complete new chapter” for Chinese investment in its neighboring country, Chaudhary said.
