Nepal-Sri Lanka B2B meeting explores investment opportunities in energy sector

Kathmandu – A business-to-business (B2B) meeting between the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Ceylon Chamber of Commerce was held in Sri Lanka.

The meeting involved a detailed discussion on promoting investment between a 50-member Nepali business delegation, led by FNCCI’s Commodity Vice President Naresh Lal Shrestha, and Sri Lankan industrialists.

Prominent Sri Lankan business figures expressed their readiness to invest billions of rupees in various potential sectors in Nepal.

Leading the Nepali delegation, FNCCI Vice President Naresh Lal Shrestha highlighted the significant potential for producing over 40,000 megawatts of electricity in Nepal. He explained that the presence of a stable government has facilitated favorable policy arrangements for foreign investment. He mentioned that the government has implemented a ‘one-stop system’ for investors and is welcoming foreign investment with a red carpet, particularly in the hydropower sector, which requires substantial capital.

Vice President Shrestha also noted that, similar to Sri Lanka, Nepal has an abundant supply of raw materials necessary for the Ayurvedic and herbal industries.

He urged Sri Lankan businesspeople to shift from merely exporting raw herbal materials at low prices to establishing processing industries in Nepal to gain more benefits.

On behalf of Nepali industrialists, he assured full commitment from the FNCCI to facilitate the investment process and provide necessary coordination at the government level.

Sagar Bhandari, First Secretary at the Nepalese Embassy in Sri Lanka, claimed that investments in Nepal are fully secure due to the stable government, with high returns expected particularly in hydropower, tourism, and Ayurveda sectors.

Similarly, Aleka Perera, Deputy Secretary General of the Ceylon Chamber, stated that Sri Lankan businesses are ready to invest significantly in Nepal’s tourism infrastructure, hydropower, and herbal industries. He emphasized Sri Lanka’s advanced technology and experience in the herbal sector and expressed eagerness to utilize Nepal’s raw materials for setting up industries, urging the Nepalese government to ensure administrative ease.

Additionally, he mentioned Sri Lanka’s willingness to strengthen the long-standing import-export trade between the two countries.

In the meeting, FNCCI Central Executive Member Bhakta Bahadur Hamal and Foreign Trade Association President Shivkumar Agrawal gave separate presentations on the trade relations, current status, and future prospects between the two countries.

The Nepali delegation included FNCCI Central Executive Members Pashupati Dev Pandey, Sagar Dhakal, Vidur Dhamala, Nirajan Chalise, Biplav Adhikari, and around 50 Nepali industrialists and businesspeople. On the Sri Lankan side, more than 50 prominent entrepreneurs affiliated with the Ceylon Chamber were present.