Investment Opportunities in Nepal: Hydropower and Tourism
Embassy of Nepal in Brussels in cooperation with the European Institute for Asian Studies (EIAS) organized a briefing seminar in Brussels on 14 February 2014. The seminar aimed to take stock of the vast investment opportunities Nepal offers to the world and members of the European Union in particular. H.E. Mr Ram Mani Pokharel, Ambassador of Nepal to the Benelux and the European Union deliverrf the keynote address in the program highlighting the enhanced business and investment environment in Nepal in the recent time and urged prospective investors and companies to take advantage of the huge hydro potential of Nepal and close and expanding market of India and China to do business in Nepal. The Ambassador's address was followed by a panel discussion chaired by Mr Dick Gupwell, Vice-Chairman, European Institute for Asian Studies; with valuable contributions from Prof Valerie Ndaruzaniye, President, Global Water Institute; Prof Dr Sri Ram Poudyal, Chairperson, Institute of Policy Research, Government of Nepal and member of the Board of Directors, Nepal Rastra Bank; as well as Dr Ram Hari Aryal, Former Secretary, Government of Nepal and member of the Board of Directors, Nepal Rastra Bank.
The speakers at the event took a comprehensive sectoral approach in highlighting the benefits of investing in Nepal. An overall introduction was given on the legal framework governing Foreign Direct Investment (FDI) in Nepal, and the particularities of specific sectors followed afterwards. In recent developments last year, The European Investment Bank (EIB) has offered a concessional line of credit of EUR 55 million (NPR approx 6.41 billion) to the Government of Nepal to finance the construction and operation of the Tanahu Hydropower plant. A significant emphasis was placed on investment opportunities in the hydropower sector. Panel discussants were right to point out, however, that Nepal aims to attract FDI to other sectors as well, including manufacturing and tourism.