The Lord Mayor of London, Alderman Dr Andrew Parmley, will tomorrow (Wednesday) host an investment conference at The Mansion House to connect potential British investors with representatives of Nepal’s hydro power industry.
Nepal is blessed with tremendous capacity for medium to large scale hydropower infrastructure and the Government of Nepal is keen to attract foreign investment and skills to meet their targets for total domestic supply as well as facilitating exports to energy-hungry India and Bangladesh.
The conference will bring British investment managers, financial services and engineering companies together alongside a senior Nepalese delegation and members of the Nepalese diaspora in the UK.
This year marks the 200th anniversary of the association between the UK and Nepal, and following the Lord Mayor’s recent historic visit to Nepal, the Lord Mayor is keen to explore further opportunities for British companies in Nepal.
The conference will be attended by Department for International Development Minister of State Rory Stewart MP OBE, the Nepalese Minister for Industry Nabindra Raj Joshi, as well as representatives from a number of City-based investment and project management firms.
Representatives from firms such as Eversheds Sutherland, Standard Chartered, The British Hydropower Association, Deloitte, and Mott MacDonald will be attending the event to share experiences from their areas of expertise on how to move large scale infrastructure projects through from planning to completion.
Speaking ahead of the conference the Lord Mayor of the City of London Dr Andrew Parmley said:
“I’m delighted that there has been such a strong City response to this event and an active interest in discovering more about investment opportunities in Nepal.
“As a developing country Nepal is in need of foreign investment to spur growth, and I am confident that the City is well placed to facilitate this mutually-beneficial economic development.
“It is no exaggeration when I say that this conference has the possibility to change the lives of tens-of-millions of people, and I am immensely pleased to see my historic visit to Nepal earlier this year bearing fruit.”
International Development Minister Rory Stewart said:
“I was delighted to return to Nepal last year and I’m proud to celebrate the 200-year relationship between our two countries. The UK stood by the Nepali people in their time of need following the tragic earthquakes, and we continue to support the country to rebuild and get back on track towards a more prosperous and stable future. Developing Nepal’s hydropower resources is not only boosting the country’s economic development, but also creating opportunities for British investors and hydropower companies.”