KATHMANDU, June 18 - Turkish businessmen and industrialists have expressed interest to invest in Nepal’s hydropower and civil aviation. They have, however, set a number of preconditions including peace, security and a conducive investment climate.

“They are ready to invest up to US$ 500 million in the initial phase,” said Kush Kumar Joshi, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) at a press conference held Wednesday to highlight the achievements of its participation in the Turkey-World Trade Bridge 2009.
An eight-member FNCCI delegation returned home after taking part in the trade conference organised by the Prime Minister’s Office of Turkey and the Turkish Confederation of Businessman and Industrialists (TUSKON) from June 1-7 in Istanbul.

“A flexible labour policy, skilled and disciplined workers and trade unions that help business to grow are some of the major requirements to attract foreign investment in Nepal,” said Joshi. He added that a TUSKON team would be visiting Nepal soon to conduct a market and investment study.

The FNCCI delegation had urged Turkish investment in hydropower pointing out the possibility of export to India during a conference with TUSKON, Joshi said.

The meeting also discussed bilateral trade and investment expansion besides moving forward as per the memorandum of understanding signed between the two organizations on June 17, 2008. Joshi said that there was a huge potential for export of woollen carpets, pashmina products and herbal products to Turkey.

Akhil Kumar Chapagain, president of the Nepal-Turkey Chambers of Commerce and Industry said, “In the near future, we will organise a trade fair in Turkey to promote Nepalese products and tourism.”

Kathmandu, November 25: Federation of Nepalese Chambers of Commerce and Industries (FNCCI)  president Kush Kumar Joshi urged the government to materialize the Public Private Partnership into an action, which the government introduced for the rapid economic growth.

He pointed out that the severe power shortage was hampering more than Rs. 65 million worth of productivity. “Government should recognize the resource potential of Nepal at a time when we are totally depending on import”, he said.

He said that, at a time when national savings was only Rs. 2 billion Nepal needed to concentrate on attracting foreign investment to implement big projects. “For this it should create business and investment friendly environment”.

Jean Marc Capentier,, an energy expert from Canada, said that building hydropower was building the nation. He said that Nepal government’s ambitious vision of creating prosperous Nepal through hydropower potential was appreciable at the time when the country was at a critical crossroads.

Citing an example of his country, he said that state-owned hydropower had developed a good relationship with the private sector in Canada and other power producing countries. “We are ready to help Nepal in regard to power purchase, sharing expertise and providing assistantship”.

Gyanendra Lal Pradhan, coordinator of hydropower development at FNCCI, said that Nepal had immense hydropower potential, market access and investors, which needed to be tapped effectively.

Prime Minister Pusha Kamal Dahal ‘Prachanda’ in a message to the programme said that such symposiums were an important move to expose the resource potential and investment opportunities to the domestic and foreigh investors.

He said the government had given due importance to create policy and administration reforms in order to promote and develop power in the country.