Vietnam, Nepal look towards stronger investment, trade ties

As part of his working trip, the ambassador paid courtesy visits to Vice President Ram Sahay Prasad Yadav, and Deputy Prime Minister and Minister for Foreign Affairs Narayan Kaji Shrestha.

Hai suggested the two sides work on measures to foster their fine traditional relationship, saying Vietnam and Nepal should boost trade, tourism and investment ties, and step up coordination at regional and international forums.

Yadav and Shrestha highly valued Vietnam’s Doi Moi (Reform), its experience in socialist-oriented market economy development and socio-economic achievements.

Yadav expressed his hope that the ambassador will help Vietnamese enterprises invest in Nepal, particularly in hydropower, renewable energy, tourism and agriculture. He suggested Vietnam soon launch direct flights to Nepal, contributing to strengthening the trade, investment and tourist ties.

The Vice President also commended the role of the Vietnam-Nepal Friendship Association and the Vietnam-Nepal Friendship Parliamentarians Group in promoting people-to-people diplomacy, parliamentary diplomacy and the friendship between the two countries.

Shrestha affirmed that the Nepali Government welcomes Vietnamese investors, and agreed to push ahead with the implementation of the political consultation mechanism between the two countries and all-level delegation exchanges.

The official said he hopes that the two sides will soon sign a Trade and Investment Framework Agreement (TIFA), noting Nepal will closely coordinate with Vietnam in preparing for the 50th anniversary of the bilateral diplomatic ties in 2025.

On this occasion, Hai had a working session with the Nepal-Vietnam Chamber of Commerce & Industry (VNCCI), during which he called on Nepali businesses to come and study the Vietnamese market and participate in fairs there.

He also met with Lumbini province’s Chief Minister Jokh Bahadur Mahara, and representatives of the Vietnamese community in Nepal.