The seminar to introduce Nepal's business and tourism potential is held in HCM City on March 13 (Photo: VNA)

HCM City (VNA) – Business and tourism potential in Nepal was introduced to Vietnamese enterprises at a seminar in Ho Chi Minh City on March 13.

Deputy Director of the HCM City branch of the Vietnam Chamber of Commerce and Industry Nguyen The Hung said Vietnam and Nepal boast sound relations and huge potential for partnerships, especially in economy.

Bilateral trade reached about 40 billion USD in 2018, including 38 million USD of Vietnamese exports, mostly mobile phones and electronic components. Meanwhile, Nepal mainly ships food products to Vietnam.

Cooperation potential in other fields remains considerable, he noted, adding that Nepalese firms are now interested in cooperation with the Vietnamese side in communications, tourism and labour export.

Janga Bahadur Gurung, Commercial Counsellor of the Nepalese Embassy in Thailand, said his country is inviting investment in some 2,000 fields, including transport, agriculture, tourism, mining, education, and healthcare. Hydropower is also a potential area as Nepal has an abundance of water sources compared to nearby countries.

He noted that Nepal is home to an array of beautiful mountainous landscapes. Many Vietnamese Buddhists have travelled to the country over recent years.

In the time ahead, the country will build an international airport to step up trade and tourism promotion. It has also revised the investment law and the law on special economic zones in order to attract investors.

The counsellor said Nepal has the two major markets of China and India with a combined population of some 2.6 billion, with 8,000 Nepalese products exempted from import tariffs in China. 

There haven’t been many foreign direct investments in Nepal, so the competition there is not high. Additionally, the country also has a favourable visa policy, he added.–VNA