Kathmandu, June 1

Underscoring the need for huge investment in the hydropower and infrastructure sectors for the country to achieve its economic growth targets, private sector representatives have floated the idea of tapping into the financial pool of China’s Belt and Road Initiative (BRI).

Speaking at a programme organised by Management Association of Nepal (MAN), Gyanendra Lal Pradhan, treasurer of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), said that the government should accelerate the process of roping in Chinese investment through BRI.

“The BRI vision is critical to expand trade, investment relations and for broader economic cooperation in South Asia and with other partners of the region,” Pradhan stated.

Pradhan’s comments have come at a time when International Monetary Fund Chief Christina Lagarde had told Chinese policymakers last month that while Belt and Road finance could provide much needed infrastructure, ‘ventures can also lead to a problematic increase in debt, potentially limiting other spending as debt service rises, and creating balance of payments challenges’.

At the programme titled ‘Hydropower for financial sustainability of states from BRI funding’, Pradhan said that China has expressed willingness to extend soft loan of up to $20 billion for the development of transport infrastructure and hydropower. “Since China is offering soft loans to BRI signatory countries at two to three per cent interest, we should consider taking up their offer,” he said.

“More than 65 countries have supported Chinese President Xi Jinping’s initiative to revive the ancient silk route. As Nepal has also joined the initiative, the time has come to propose large-scale projects to uplift Nepali economy,” he added.

BRI could be an opportunity for South Asian countries to increase economic development by bridging the infrastructure gap, according to Shailendra Guragain, president of Independent Power Producers Association – Nepal (IPPAN).

Pradhan expressed hope that agreements related to some mega projects of hydropower and rail connectivity will be signed during Prime Minister KP Sharma Oli’s upcoming China visit.

IMF’s Lagarde had said that in countries where public debt is already high, careful management of financing terms is critical and also warned that ‘with any large-scale spending, there is sometimes the temptation to take advantage of the selection and bidding process’.

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Kathmandu, June 1

A meeting of Nepal-India joint technical team has been scheduled here for the third week of June to discuss the possibilities of opening new air routes between the two countries.

Following the decision made by executive heads of the two countries on May 11 during Indian Prime Minister Narendra Modi’s visit to Nepal to finalise the technical study of opening new air entry routes via different points, the Civil Aviation Authority of Nepal (CAAN) had requested Airport Authority of India (AAI) for a technical meeting on this issue.

Though the actual date of the meeting has not been finalised, AAI has said that it is sending its delegation to Nepal in the third week of June, according to Dipak Baral, director of Air Traffic Management at CAAN, who is also the coordinator of Nepal’s technical committee for the meeting.

Baral informed that CAAN will propose AAI to give air entry routes from Nepalgunj and Janakpur at the meeting.

“The meeting will discuss the pros and cons of allowing air routes for Nepal-bound international flights via Nepalgunj and Janakpur on both Nepal and India,” informed Baral.

CAAN will seek both entry and exit facility through the aforementioned proposed air routes.

Presently, the only authorised air entry point to Nepal from the south is through Simara, which is pretty much congested.

The issue regarding opening of the new cross-border air routes has been raised time and again since the last five years. Though Indian Prime Minister Modi had committed to hold discussions on this issue during his previous visit to Nepal in 2014, no substantial progress had been made on this front until recently.

Meanwhile, CAAN officials are optimistic that the technical committee meeting between the two countries will come up with a clear picture on necessity and prospects of opening new air routes, thereby facilitating both the governments to take the necessary decisions.

“The meeting will only outline the feasibility of opening new cross-border air routes and present the report to the respective governments,” said Baral.

Nepal is seeking new air route facility via Nepalgunj and Janakpur with India with the view of connecting the upcoming international airports in Bhairahawa, Pokhara and Nijgadh.

However, Indian authorities had earlier expressed concerns related to opening air route via Nepalgunj, though the Janakpur route is feasible, citing that the Indian army has set up an air defence base camp on the Indian side close to Nepalgunj.

The Simara air entry route has suffered massive air traffic congestions in the recent years, with the increase in air travel as it is the only gateway for international airlines to come Nepal.

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Kathmandu, June 1

The second edition of Himalayan Travel Mart (HTM) 2018 — a mega tourism event of Nepal — kicked off in the Capital from today.

The three-day event is being organised by Pacific Asia Travel Association (PATA) Nepal Chapter with the theme of ‘sustainable road to five million visitors’.

Addressing the inaugural session of HTM 2018, Foreign Minister Pradip Kumar Gyawali said these types of events help in sharing tourism-related information through different media. “Nepal needs to harvest more tourists from around the world and we believe HTM will build the bridge for Nepal’s socio-economic growth.”

The event is expected to be a unique platform, facilitating networking, sharing knowledge, insights and business opportunities among the participants with focus on different aspects of Himalayan tourism.

Deepak Raj Joshi, chief executive officer of Nepal Tourism Board (NTB), said that the event also aims to re-define adventure tourism in Nepal.

“HTM 2018 is Nepal’s international travel trade show and a business-to-business event for the Himalayan tourism industry,” he added.

Marcus Lee, chairman of International China Investment Forum (ICIF), had presented a paper on how to lure Chinese outbound tourists to Nepal. Lee suggested building large infrastructure like hotels and airports to grab the attention of high-end tourists from China and around the world.

Similarly, Chris Bottrill, chairman of PATA, also stressed on the need to focus on developing physical infrastructure of tourism sector and products. He suggested improving Nepal’s air transportation service and hospitality business.

Among other sideline events, the HTM 2018 will also feature HTM Travel Conference between buyers, sellers, media and tourism industry stakeholders with international experts. This event will discuss and share contemporary issues, challenges and opportunities in Himalayan tourism.

HTM 2018 will also host an International Travel Bloggers and Media Conference (ITBMC) that will promote Nepal as a promising tourist destination.

The event is being participated by have 160 delegates from 53 countries, with 37 delegates from Nepal. The event is also hosting more than 350 local participants, 107 international travel bloggers or influencers and media persons, 17 high value speakers, 54 international buyers, over 50 sellers from Nepal and international markets and more than 1,500 business appointments, according to the organisers.

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