Finance Ministry says Nepal needs to learn from China

Finance Ministry says Nepal needs to learn from China

Nepal needs to learn a lot from China's economic progress, according to a minister. Inaugurating Nepal-China Contemporary Studies Council, here today, finance minister Dr Ram Sharan Mahat said that China achieved notable progress in a short period due to its social and economic discipline, which Nepal needs to learn for its economic prosperity. Urging the Chinese government to invest more in hydropower, agriculture, tourism and in the areas of comparative advantage in Nepal, Mahat also called for increasing the bilateral cooperation. "We need Chinese capital, technology and skills." Both the countries should take economic relations to a new height through increment in development assistance as well as private investment, he said, asking Chinese investors to take maximum advantage of investment opportunities in Nepal. "The spill-over effect of the Chinese economy will help us to boost our economy too,” he said, hailing the unprecedented growth in Chinese economy since the last 40 years that is now being interpreted, analysed and discussed globally. The finance minister also said that China has become the second largest economy in the world due to socio-economic development initiatives that it started in the 70s. He also called for more Chinese government and private investment in Nepal’s development endeavours at a time when China has been making investments all over the world. "If there were no periodic elections, the government could set a target and plan long-term projects and programmes and execute policies to create a conducive environment for long-term growth," he added. Established as the research and study wing of Nepal-China Chamber of Commerce and Industry (NCCCI), the council aims at developing a policy-conscious community through research and discussion on the contemporary issues between Nepal and China. Chinese ambassador to Nepal, Wu Chuntai, on the occasion, said that there are enough possibilities for Chinese investment in agriculture, tourism, and hydropower in Nepal. He also asked to take advantage of Chinese capital, skill, market, and technology. Calling on Nepal to join the China-initiated economic belt and 21st century Silk Road, the envoy said that the new Chinese leadership, particularly President Xi Jinping, has proposed to build an economic belt along the ancient Silk Road that brings Asia and Europe together and the Maritime Silk Road with neighbours to boost common development. Likewise, delivering speech on 'Chinese President Xi Jinping's New China Wakes up the World',  dean of Tsinghua University, Beijing Prof Li Xiguang stressed on the need of avoiding conflict among political parties, and moving ahead holding talks, forging consensus and consulting each other. Vriticising western development and democracy, he said that the government policy should address the fundamental needs of people. "A government that fails to ensure basic need of people like education, health, employment, security is considered a failure," he added. "China is not only changing the global economy, it also poses a challenge to Western democracy in its own mode," he said, adding that many had seen China’s unique development as a model to follow, and China’s advocacy of political values, patterns of social development and foreign policies would have a growing influence on the international community. Chairman of the Nepal-China Chambers of Commerce and Industries, Rajesh Kaji Shrestha, stressed on the need of establishing an identity of good neighbour by the prosperous China providing supports in the sector of agriculture, tourism, and hydropower development.
All Rights reserved © 2019 - Designed & Developed by InDesign Media