India VS Pakistan
Kathmandu, November 8, 2023 – The Office of the Investment Board, Nepal, in collaboration with the Embassy of the Republic of Korea in Nepal and the Korea International Trade Association (KITA), successfully hosted the ‘2023 Nepal-Korea Investment Seminar’ in Kathmandu today. The event brought together government officials, private sector leaders, business professionals, and key stakeholders to discuss investment opportunities in Nepal, share Korean companies’ experiences, and explore new financing avenues.
Chairman Sushil Bhatta of the Investment Board, Nepal, provided valuable insights into the foreign investment landscape in Nepal and the pivotal role played by the Investment Board as a government agency in facilitating such projects. He shared information on how the Investment Board has been instrumental in aiding foreign investments in Nepal, contributing to the nation’s economic growth and development.
He also noted that Nepal presents an attractive investment destination for Korea, citing the presence of more than 350 Korean enterprises with significant investments in the country. Chairman Bhatta emphasized the need to further expand this growing partnership and harness Korean technology and expertise to complement Nepal’s abundant natural resources and skilled workforce.
Additionally, Chairman Bhatta extended an invitation to Korean investors to participate in the Investment Summit next year.
On the keynote address by Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) emphasized the favorable investment environment in Nepal and called for efforts to balance the trade between the two nations. He noted that while imports from Korea to Nepal have been substantial, exports from Nepal to Korea remain relatively negligible, underlining the need for a more equitable trade relationship.
In a virtual address, Dukgeun Ahn, the Minister for Trade of Korea, emphasized that Nepal is a developing country and highlighted Korea’s own journey from being one of the poorest nations to becoming the 13th strongest economy. He expressed Korea’s willingness to share its experiences and provide support to Nepal. Next year marks the 50th anniversary of diplomatic relations between the two countries, and Korea reaffirmed its commitment to continue supporting Nepal’s development efforts.
Diplomatic relations between Nepal and the Republic of Korea (RoK) were established on May 15, 1974. The Republic of Korea opened its Embassy in Kathmandu in the same year, while Nepal established its Embassy in Seoul in 2007. These relations have been characterized by goodwill, friendship, and mutual cooperation, with frequent exchanges of visits at various levels further strengthening them.
The ‘2023 Nepal-Korea Investment Seminar’ served as a platform for fostering economic ties between the two nations, promoting investment, and enhancing collaboration in vital sectors. The event showcased the commitment of Nepal and Korea to furthering their economic partnership and achieving mutual prosperity through foreign investment and trade collaboration.
