UNIDO ITPO Tokyo organized “Nepal Investment Seminar” with the Embassy of Nepal in Japan and Japan External Trade Organization (JETRO)

UNIDO ITPO Tokyo organized “Nepal Investment Seminar” with the Embassy of Nepal in Japan and Japan External Trade Organization (JETRO) on June 29 at the United Nations University on the occasion of the visit to Japan of Mr. Sushil Bhatta, Chief Executive Officer, Investment Board Nepal (IBN). In this seminar, the investment environment and opportunities in Nepal were introduced, and there were also presentations of case studies of Japanese companies active in Nepal. The seminar was attended by 136 participants.

At the beginning of the seminar, Ms. Fumio Adachi, Head, UNIDO ITPO Tokyo, and H.E. Dr. Durga Bahadur Subedi, Ambassador of Nepal in Japan, gave welcoming remarks, followed by a keynote speech by Hon. Dr. Arzu Rana Deuba, Member of the House of Representatives of the Federal Parliament Nepal. Dr. Deuba emphasized the stability of peace and democracy in the country, as well as its abundant natural resources, such as hydroelectric power, tourist attractions, and younger labor force. She concluded her speech by saying “For Nepal Japan is one of the most important development partner. We welcome foreign investment in all sectors from Japan.”

Mr. Sushil Bhatta, Chief Executive Officer, IBN, reported that 38 direct investments worth $9.5 billion has been approved in Nepal up to date. Mr. Bhatta listed energy, transportation, tourism, agriculture, manufacturing, ICT, health, steel, education, and finance as potential areas of investment for Japanese companies, and expressed his commitment to fully support Japanese companies interested to develop business in Nepal.

Mr. Ito Teruyuki, Director General, South Asia Divison of the Japan International Cooperation Agency (JICA), introduced projects in which JICA has identified private sector development as a priority area for cooperation in Nepal. He also reported that JICA currently dispatches an advisor to IBN to promote foreign investment and also works to develop human resources for industry. Mr. Mishima Kazuo, JICA Foreign Investment Adviser dispatched to IBN, in his video message, introduced a few cases of Japanese companies in Nepal, including a pharmaceutical company setting up a factory and warehouse to produce skin care products, and a construction company building a hydroelectric power plant.

Mr. Chikayoshi Kishu, Manager, Asian Market Development Dept., Nippon Cable Co., Ltd. introduced a project in Pokhara, Nepal’s second largest tourist city, where the company installed cable cars connecting to the Himalayan Mountains. He also mentioned that the completion of an international airport near Pokhara city in January 2023 is expected to increase the number of tourist arrivals from overseas.

Mr. Kazuya Nakajo, Executive Vice President, JETRO, concluded the seminar by stating that “Nepal allows 100% foreign capital in almost all sectors, making it easier for foreign capital to enter the country, and expressed JETRO’s intention to cooperate with UNIDO, JICA, and other related organizations to further promote Japanese investments to Nepal. A networking session among the speakers and seminar participants were organized after the seminar.