Press Release on ‘Nepal-China Economic Co-operation Forum: Prospects of Investment in Nepal’s Energy Sector’
An interaction program on the topic of ‘Nepal-China Economic Co-operation Forum: Prospects of Investment in Nepal’s Energy Sector’ was held in Beijing today at the aegis of the Embassy of Nepal, in collaboration with China Association for International Economic Co-operation. Hon. Minister for Energy, Water Resources and Irrigation of the Government of Nepal Mr. Barshaman Pun was the Guest of Honor.
The forum brought together Chinese energy companies and entrepreneurs, as well as senior officials of the Government of Nepal and businessmen and representatives of companies from Nepal for interactions on facilitating Chinese investments in the hydropower sector. More than one hundred and twenty participants including representatives of public and private sector companies of Nepal and China, senior office-bearers of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Non-Resident Nepali Association (NRNA), Independent Power Producers Association of Nepal (IPPAN), representatives of Asian Infrastructure Investment Bank (AIIB), and mediapersons also took part in the program.
Hon. Shyam Kumar Shrestha, Member of Parliament, Hon. Dr. Krishna Prasad Oli, Member of the National Planning Commission and Mr. Anup Kumar Upadhyay, Secretary at the Ministry of Energy, Water Resources and Irrigation (MoEWRI) were also present.
In his speech, Hon. Minister Pun shed light on the significance of electricity as a priority sector with a direct bearing on socio-economic transformation of the country, and outlined the Government of Nepal’s plan to develop 15000 MW of electricity in 10 years. The Hon. Minister underscored the key role of foreign investments in achieving the target and invited the Chinese enterprises to utilize the opportunities for investment in Nepal’s hydropower for win-win outcomes for both countries.
Nepal’s Ambassador to China Leela Mani Paudyal, in his welcome remarks, said that the forum had been organized with a view to facilitating dialogue between Nepali policymakers and Chinese enterprises, and for exchanging ideas and experience on further accelerating Chinese investment in the generation of hydropower in Nepal. He assured the full support and co-operation of the Embassy of Nepal in facilitating such investments.
The event featured presentations on Nepal’s investment climate and the prospects of hydro-electricity development in the country. Briefing on the investment opportunities for Chinese investors in Nepal’s hydropower sector, Mr. Dinesh Kumar Ghimire, Joint Secretary at MoEWRI, outlined the policies, tools, processes and facilities relating to the investment regime in the hydropower sector. Mr. Kulman Ghising, MD of Nepal Electricity Authority, highlighted the potentials of investing in Nepal’s hydropower from a regional market perspective, and said that it is a most appropriate time to invest in Nepal due to the huge volume of regional and domestic demand in electricity, the robust nature of energy connectivity infrastructures in the region, seasonal complementarities for demand and supply, and the credibility of NEA as an off-taker.
Mr. Chhabi Raj Pokharel, CEO of Hydroelectricity Investment and Development Company Ltd., and Dr. Netra Prasad Gyawali, CEO of National Transmission Grid Company Ltd., made presentations on their respective companies, and elaborated the Government’s policies and procedures relating to the generation and transmission of electricity in Nepal.
Mr. Gyanendra Lal Pradhan, Treasurer of FNCCI, Mr. Bhawan Bhatta, President of NRNA and Mr. Gore Sherpa of IPPAN also spoke at the program.
Mr. Guo Yongle, Vice-President of China Association for International Economic Co-operation welcomed the Hon. Minister and other delegates from Nepal, and hoped that the interactions would promote business co-operation between the two countries and create new opportunities in further advancing Nepal-China economic co-operation.
Mr. Sushil K Lamsal, Minister and Deputy Chief of Mission summarized the proceedings and extended a vote of thanks.
Embassy of Nepal
Beijing
16 October 2018
