Economy

Turks eye hydropower

Published by Octron on June 18, 2009

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.”

Source: Kantipur

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