Nepal Welcomes Malaysian Investments

KUALA LUMPUR, Nov 17 (Bernama) -- A 60-member Malaysian business delegation to Nepal earlier this week, signed six memoranda of understanding (MoUs), with three Small Medium Enterprises (SMEs) having started negotiations on investments in manufacturing, tourism and retail marketing. The MOUs and investments include more Nepali students coming to study in Malaysia, a joint venture in establishing a college or university, establishing retail outlets and more investments in the tourism and manufacturing sectors. According to a statement from the Malaysia Nepal Business Council (MNBC) here Thursday, the delegation had a 30-minute meeting on Tuesday with Nepal’s Prime Minister Baburam Bhattarai, who welcomed Malaysian investors and guaranteed their investments. "We welcome you all and guarantee your investments in the manufacturing, construction, hydroelectric, tourism and other sectors," Baburam told the delegation. The four-day visit which started as a private sector initiative, was led by joint delegation leaders, SME Corp Malaysia chairman, Mohamed Al Amin Abdul Majid and Aseh Che Mat, a former Home Ministry secretary general. Mohamed Al Amin said: "Nepal, being a business friendly government, accords a high level of commitment to supporting Malaysian companies. At the same time, Nepal has also been establishing joint ventures in Malaysia." He told the business networking dinner in Kathmandu, that the objective of the mission was to expose Malaysian Small, Medium and Micro Enterprises (SMMEs) to business opportunities in the emerging Nepali market. "We believe there is a huge untapped potential for business linkages between the Malaysian and Nepalese communities, evidenced by the consistent positive growth in trade between the two nations. "There is also a tremendous scope for promotion of mutually beneficial commercial relations in the area of trade, investment, employment and tourism promotion," he said. Aseh said that since 2001, Malaysia had recognised Nepal as a source country for foreign workers. Meanwhile, MNBC president Pardip Kumar said in the same statement that it was a successful business mission, and businessmen from both countries leveraged on the opportunities to intensify existing trade relations. In addition to the Malaysian delegation meeting the Prime Minister, the members also had meetings with Nepal's two Deputy Prime Ministers and the Minister of Commerce. -- BERNAMA