Indo-Canadian investors to explore investment

A team of Indo-Canadian businessmen led by Stewart Beck, ambassador for Canada to Nepal, is visiting Nepal next week to explore investment avenues in infrastructure development sector.
“Another focus of the visit is to launch the Canada-Nepal Business Executive Committee (CNBEC)," Archana Mirajkar, senior media and communication officer at High Commission of Canada in India, told Republica over phone.
According to Mirajkar, the CNBEC comprises representatives from Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Indo-Canadian Business Chamber (ICBC). "The business community from Canada is, mainly, looking to have an understanding of Nepal and investment climate there," Mirajkar said.
The delegation will visit Nepal from May 5 and 8.
Mirajkar further informed that the team comprises of representatives from firms like Arcop Associates, Bombardier, IRD Inc, Lea Associates, Manitoba Hydro International, Premiertech Aqua and Ballard Power Systems, and Indo-Canadian Business Chamber.
The Indo-Canadian business delegation will explore investment avenues in sectors like urban development, roads, hydroelectric power and waste management.
“The delegation will explore commercial opportunities in the different potential sectors," Mirajkar said. "It will also try to gain a deeper understanding of the priorities, challenges and achievements of the current government in Nepal."
Additionally, the team will also have in-depth discussion with the officials from FNCCI about the potential projects to invest.
"We are holding a meeting with the Indo-Canadian delegation on Monday," Pashupati Murarka, vice president of the FNCCI, said. "The meeting will focus on identifying different areas where we can work together and where we need foreign direct investment."
Meanwhile, Ambassador Beck also has plans to call on leaders from different political parties and high-level government officials.
According to Mirajkar, Nadira Hamid from Indo-Canadian Business Chamber, Harsh Dhingra from Bombardier, Debaissh Guha from Arcop Associates, Alisa Kreynes from Manitoba Hydro, Pramod Radhakrishnan from IRD, Pradeep Kumar from Lea Associates, Vijay Malani from Premiertech Aqua, and Alok Goel from Ballard Power System are in the delegation.
Statistics of the Department of Industry (DoI) shows 25 firms in the country have foreign direct investment worth Rs 5.08 billion (approximately US$ 57 million) from Canada as of fiscal year 2010/11. These firms have generated 1,926 jobs.
"We will explain the situation of the country to the Canadian investors and convince them that the investment climate here is not that bad," Murarka said. "We will demonstrate them that the real situation is not as bad as portrayed outside."