KATHMANDU:- 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.
The meeting, held on December 1 at the central office of the American Chamber of Commerce, was attended by senior representatives from the US Department of State, Department of Commerce, Commercial Services, and the US Chamber of Commerce.
On that occasion, possible partnerships, collaborations, and possibilities in bilateral trade, economic diplomacy, energy, communication and information technology, advanced technology, manufacturing sectors, and service industries were discussed, according to AmCham Nepal.
On that occasion, MCHAM mentioned that there is great investment potential for the private sector in Nepal and presented the possibility of investing 10 billion US dollars in the hydropower sector alone.
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.
Ajit Shah, founding president of AmCham Nepal, said that the American Chamber of Commerce in Nepal was established 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 are great opportunities for trade and investment in Nepal that will benefit both Nepal and the United States, Shah emphasized that there are also great opportunities in other sectors, including energy and technology, digital innovation.
Shah also expressed the view that it is 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 AmCham. He said that this has helped 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 reforms shown by the Nepalese government in the ICT sector are 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 American private sector to invest more.”
At the event, AmCham Nepal presented the strategic opportunities for 100% renewable energy generation, data centers, and high-performance computing facilities in Nepal. It was reported that about 92 percent of Nepal’s hydropower potential is still undeveloped and that 100 percent foreign investment is permitted in this sector. The US side also expressed interest in Nepal’s potential contribution to regional energy security and the potential for long-term, sustainable investment.
Both sides also agreed to organize a webinar on US-Nepal hydropower investment, conduct investor roadshows in various US cities, and prepare a portfolio of bankable energy projects for US investors.