Kuwaiti delegation keen to foster bilateral trade, investment
KATHMANDU, May 14: Even though Kuwait employs well around 50,000 Nepalis in various jobs, Nepal and Kuwait are still to make conscious efforts to tap each others business and investment potentials to deepen bilateral economic ties, officials of Kuwaiti Foreign Ministry said on Monday.
A delegation of the Kuwaiti ministry that is on a four-day visit to Nepal under the leadership of senior official Mahammad Ahmad Al-Mujrin Al-Roomi also expressed eagerness to expand bilateral economic cooperation, particularly trading and investment activities in Nepal.
“Nepal has huge business potential and Kuwaitis can readily invest in the country. To tap this potential and create win-win situation, we must deepen the bilateral ties,” Al-Roomi said, adding, “Kuwait is more than eager to do that.”
Interacting with the business community at a program hosted by Nepal Kuwait Chamber of Commerce and Industries (NKCCI), Al-Roomi said he was impressed with the hard working behaviors of Nepali workers in Kuwait, indicating that the country could take more Nepali workers if the Nepali government proposed.
“We can work jointly for the promotion of tourism as well,” said Al-Roomi.
Saying that the two countries have huge potential to expand bilateral trade and investment, Al-Roomi stressed the need to set up Kuwaiti mission in Nepal. “Nepalis are already traveling in a large number to Kuwait. We must further facilitate the bilateral movement, trade and other economic activities. For this, we must have a Kuwaiti diplomatic mission in Nepal,” he said.
During the interaction, Nepali businessmen shed light on top investment priorities of the government and existing business prospects in the country. “Tourism, hydropower, agriculture and many more sectors offer high business returns. Hence, we request the visiting officials to help Nepal attract investments in those sectors,” said Surendra Bir Malakar, president of NKCCI.
He also laid emphasis on the need to set up specific mechanisms to foster interaction between government and private sectors, and appealed to the Kuwaiti government for the promotion of Nepal in the region.
Acting President of Federation of Nepalese Chambers of Commerce and Industry Bhawani Rana said Nepali business community was eager to form joint ventures and also provide all necessary support to the Kuwaiti private players to start business in Nepal.