Biz Prospects<br>

Nov. 13, 2011, 5:45 p.m. Published in Magazine Issue: Vol.: 05 No.-09 Nov. 11-2011 (Kartik 25,2068)<br>

The Czech technology is not new to Nepal. Printing presses here still use it. The first Czech equipment was introduced in Janakpur Cigarette Factory at the time of the Soviet Union. After this, Birgunj Sugar Factory and Agriculture Tools Center also received Czech equipment.

Interestingly, these equipment, supplied by Czech companies, are still in use. The electromechanical components of Panauti Hydro plant, which was built under the support of the dissolved Soviet Union, were from Czech companies.

Despite all these, the trade relations between Nepal and the Czech Republic are limited. Thanks to the efforts of honorary Czech consulate to Nepal Bishnu Agrawal and Czech ambassador to Nepal Miloslav Stasek, renewed efforts are being made to build on these relationships.

Known for quality, Czech technology tools can be used to increase Nepal’s hydroelectricity capability. Similarly, Nepal can gain from Czech technology and knowledge in the areas of waste management and water treatment.

Addressing an interaction, organized by the Confederation of Nepalese Federation (CNI), Minister for Industry Anil Jha invited Czech entrepreneurs to invest in hydropower, tourism and cement

“The UCPN-Maoist led government has recently signed the Bilateral Investment Promotion and Protection Agreement (BIPPA) with India to ensure investment safety,” he said, adding that the government is ready to protect foreign investors.

The visiting Czech entrepreneurs have also shown interest to work with Nepali entrepreneurs in various sectors like education, hydropower, and agriculture.

On the occasion, Czech assistant minister for environment Ivo Hlavac promised to help attract foreign investment in Nepal. “Commitments to peace process from political parties have attracted international
entrepreneurs to Nepal,” said the team leader of the 15-member delegation on a visit to Nepal.

“We hope investment doors will open,” he said, adding that it is the best time to expand economic and business relationship between Nepal and Czech Republic.

“Nepal has a prosperous future due to its liberal economic policies,” he added.

Deputy environment minister of Czech Republic Tomas Tesaf assured technical assistance to Nepal for rapid industrialization. “Nepal is in the process of establishing peace and it is also the time to
start economic activities,” he said.

Czech Republic is Europe’s major hydropower exporting country and it has the experience in groundwater and waste management.

STEF Group of Czech Republic has already partnered in 24.95 MW Trishuli-III hydropower project with Santoshi Hydropower of Nepal. The entrepreneurs of both the countries also held B2B meeting to explore areas to further the business and economic ties.

Honorary Consular General to Nepal Bishnu Agrawal said that Nepal can learn a lot from Czech development. Vice presidents of CNI Narendra Kumar Basnyat and Hari Bhakta Sharma also asked the visitors to invest in Nepal, while Czech ambassador to Nepal Miloslav Stasek invited Nepali entrepreneurs team to visit Czech Republic next year.

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