On the occasion of the 50th anniversary of the establishment of diplomatic relations between Nepal and Vietnam, business representatives from both countries held discussions on expanding economic relations.

During a meeting on Thursday with the Vietnam Chamber of Commerce and Industry in Hanoi, the capital of Vietnam, Nepali business leaders highlighted the significant potential for investment in Nepal - particularly in tourism, hydropower, and agriculture - and urged Vietnamese investors to consider investing in these sectors.

Speaking on the occasion, Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), called on Vietnamese investors to advance further economic cooperation between Nepal and Vietnam. Mentioning that diplomatic relations between the two countries have reached 50 years, President Dhakal emphasized the need to now strengthen economic collaboration.

“There is great potential for economic cooperation between the two countries. I would like to encourage Vietnamese investors to invest in Nepal and also inform them about the potential for large-scale exports from Nepal,” he said. “Nepal’s products such as handicrafts, tea, coffee, and herbs have strong market prospects in Vietnam, so I urge you to increase investment in these areas as well.” He further stated that the economies of the two countries could complement each other. He added that Vietnamese agricultural products, seafood, and electronics also have good potential in the Nepali market.

“Nepal is developing a favorable environment for foreign direct investment. Our laws are investment-friendly, and improvements have been made in licensing, customs, and tax administration. The government is also conscious about ensuring the security of foreign investment,” he said.

Noting that regional investment has been rising in Nepal’s tourism sector - especially in hotels, resorts, cable cars, adventure tourism, and wellness centers - he stated that Nepali businesses welcome Vietnamese investors. He also invited the Vietnamese delegation to participate in FNCCI’s upcoming annual general meeting and to observe Nepal’s business environment firsthand.

Nguyen Quang Vinh, Deputy Executive Chairman of the Vietnam Chamber of Commerce and Industry, stated that they too are interested in enhancing economic partnership with Nepal. Expressing happiness at hosting FNCCI in Vietnam, he noted the significant potential for investment and trade between the two countries and emphasized the need to further strengthen economic cooperation. “There is currently limited cooperation in trade and investment between the two countries, but there is great potential. Our cooperation will continue to grow in the coming days,” he said.

On the occasion, Nepal’s Ambassador to Thailand and Vietnam, Dhan Bahadur Oli, highlighted the vast investment potential in various sectors in Nepal and urged for increased investment. Mentioning that 50 years have passed since the establishment of diplomatic relations between Nepal and Vietnam, he stressed the need for both countries to utilize the potential in trade and investment. Given the emerging challenges in the global economy, he pointed out the need for both nations to increase mutual economic cooperation and benefit from it.

Office bearers and members of FNCCI’s executive committee were present at the event.