Predicted to be the world´s largest economy in the next 30 years, China has made huge strides. China´s economic growth is looked upon with awe by many, but for us it should be an inspiration. As the Chinese economy grows it will offer more opportunities for Nepali exports. Since our trade deficit with China, as with many other countries, is ballooning every year we must take measures to export more and more goods and services to that market. One of the ways to do so is to attract Chinese investment in Nepal for manufacturing goods targeting the Tibet market which is distant from the Chinese heartland. Delegates from the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) have complained that due to lack of homework and coordination by the government in Kathmandu they missed an opportunity to tap into Chinese investments. During or after every visit by the head of government to either of our two next-door neighbors we hear such complaints and see the blame game being played out. This is unfortunate.
We all should work hard to reap the benefits of the growing economies of India and China. But we cannot and should not try to pass the buck when things don´t go right or don´t go our way. We should do our part and complement others, filling in for their weaknesses. The government alone cannot do everything, nor can the private sector alone create the environment to turn China and India´s growth to our advantage. There are a lot of things we need to do on our domestic front as well to utilize assistance given by our neighbors and attract investment from those countries. After neglect for over a decade, Chinese and Indian investors have shown renewed interest in Nepal. We must now capitalize on this and foster an investment-friendly environment.
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