Press Release
Her Excellency Dr. Sarmila Parajuli Dhakal, Ambassador of Nepal to Spain, had a working breakfast with officials from the Spain Chamber of Commerce on 28 FEB 2024, in Madrid. Ambassador Dr. Parajuli was welcomed by Mr. José Luis Bonet, President of the Spain Chamber of Commerce and Ms. Inmaculada Riera, CEO of the Spain Chamber of Commerce.
The program commenced with the registration of participants, followed by welcome remarks from Ms. Estrella Jimenez Leon, Deputy Assistant Director-General of Asia, Non-EU Europe, and Oceania at the Ministry of Economy, Commerce, and Business. In her address, Ms. Jimenez Leon highlighted the conducive environment for investment opportunities in Nepal and emphasized the untapped potential of Nepal-Spain relations in trade, tourism, technological cooperation, and hydroelectricity, among other areas.
This was followed by an address from Ambassador Dr. Parajuli, where she urged and motivated Spanish investors to tap into the investment potential that Nepal offers. She further added that Nepal’s foreign policy is guided by the maxim ‘Amity with all, enmity with none,’ projecting Nepal’s friendly and cordial relations with its immediate neighbors and extended neighbors. Similarly, Ambassador Dr. Parajuli characterized Nepal as a land-linked country between India and China, with trade and treaty provisions with these countries, thus opening up a market of around 2.8 billion population. She also highlighted the huge potential that service sectors like tourism and green renewables, including hydroelectricity and green hydrogen, have in Nepal.
Similarly, Mr. Arjun Adhikari, Second Secretary at the Embassy, made a presentation in which he outlined the investment prospects in Nepal, emphasizing the policy initiatives and ongoing reforms to attract FDI in Nepal, as well as the legal framework that supports investments in the country.
Then, Mr. Jaime Montalvo, International Director for the Spain Chamber of Commerce, thanked the Ambassador for her address. This was followed by introductions from representatives of different companies, along with their queries. The companies included ACCIONA, BBVA, CAF, COMSA, EPTISA, FUNDACION CONSEJO ESPAÑA-INDIA, IBERDROLA, MOLECOR, TECNICAS REUNIDAS, and ZITRON among others, who are leaders in Spain and the European Union in their respective areas. The heads and representatives of these organizations shared their increased enthusiasm and interest in investing in Nepal. They further expressed a desire to explore and identify their respective areas of collaboration and cooperation, which included sharing technical know-how in railways, Green Hydrogen, tourism practices, trade promotions between the two countries, potentiality in the ICT sector, hydroelectricity, and culture, among others.
The program concluded with concluding remarks from Her Excellency Dr. Parajuli, in which she thanked all the business houses and potential investors for their participation and invited them to participate in the ‘Nepal’s Third Investment Summit’ to be organized from April 28-29, 2024, in Kathmandu. Mr. Bimal Dhakal, Spouse of the Ambassador; Mr. Arjun Adhikari, Second Secretary; Mr. Bipin Chand, Attaché at the Embassy, along with around 20 heads and representatives of different business houses, were present at the working breakfast.
28 FEB 2024
Embassy of Nepal
Madrid, Spain.
