Noting that there is great investment potential for the private sector in Nepal, MCHAM had presented the possibility of investing US$10 billion in the hydropower sector alone.
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The American Chamber of Commerce in Nepal (AMCHAM Nepal) has held a high-level discussion in Washington, DC, on the prospects of American investment in Nepal.
Senior representatives from the US Department of State, Department of Commerce, Commercial Services and the US Chamber of Commerce participated in the meeting held on December 1 at the central office of the American Chamber of Commerce with the support of US commercial organizations.
On that occasion, discussions were held on possible partnerships, collaborations and opportunities in bilateral trade, economic diplomacy, energy, communication and information technology, advanced technology, manufacturing sector and service industries, according to AmCham Nepal.
On that occasion, AmCham stated that there is a huge investment potential for the private sector in Nepal and presented the possibility of investing US $ 10 billion in the hydropower sector alone.
Ajit Shah, the founding president of AmCham Nepal, mentioned that the establishment of the American Chamber of Commerce in Nepal was with the support of various American companies. He said that AmCham Nepal is a strong and effective medium for investors from both countries. Stating that there is a huge opportunity for trade and investment in Nepal that will benefit both Nepal and the US, Shah emphasized that there is also a huge opportunity in other sectors, including energy and technology, digital innovation.
Shah said that it is also necessary for both countries to remove regulatory challenges and obstacles to increase trade and investment. He also thanked the US Embassy in Nepal for its support to MCham. He said that this has helped to promote US investment in Nepal.
On that occasion, US officials praised the policy reform efforts in Nepal. Patrick Pitt, Director of the US Chamber of Commerce, said, “The policy reform shown by the Nepal government in the ICT sector is very good. The government has also paved the way for Nepali companies to open subsidiary offices in the US, which has made it easier for the US private sector to invest more.” He said that predictable rules, transparent laws and consistent implementation are the main factors that attract US investors. “Nepal is gradually emerging as a significant market for such opportunities. We expect Nepal to contribute to the prosperity of partnerships by further strengthening the environment in which American businesses can succeed,” he said.
At the event, AmCham Nepal presented the strategic opportunity for 100 percent renewable energy generation, data centers, and high-performance computing facilities in Nepal. It was reported that about 92 percent of Nepal’s hydropower capacity is still undeveloped and 100 percent foreign investment is permitted in this area. The US side also expressed interest in Nepal’s potential contribution to regional energy security and the potential for long-term, sustainable investment.
In addition, both sides agreed to organize a webinar on US-Nepal hydropower investment, conduct investor roadshows in various cities in the US, and prepare a portfolio of bankable energy projects for US investors.
Through this, AmCham Nepal’s approach from grants to trade has been further enriched. It is mentioned that this will help move forward with the goal of enhancing the prosperity of both countries through investment and trade expansion on both sides.
