KUALA LUMPUR: A 60-member Malaysian business delegation to Nepal signed six MOUs early this week and three SMEs have started negotiations on investments in manufacturing, tourism and retail marketing.

The MOUs and investments include more Nepali students coming to study in Malaysia, a joint venture in establishing a college or university, establishing retail outlets and more investments in the tourism and manufacturing sectors.

According to a statement from the Malaysia Nepal Business Council (MNBC) here Thursday, the delegation had a 30-minute meeting on Tuesday with Nepal's Prime Minister Baburam Bhattarai who welcomed Malaysian investors and guaranteed their investments.

"We welcome you all and guarantee your investments in manufacturing, construction, hydroelectric, tourism and other sectors," Baburam told the delegation.

The four-day visit which started as a private sector initiative was led by joint delegation leaders - Malaysia's SME Corp chairman Datuk Mohamed Al Amin Abdul Majid and Tan Sri Aseh Che Mat, former Home Ministry secretary general.

Mohamed Al Amin said: "Nepal being a business friendly government accords a high level of commitment to support Malaysian companies. At the same time Nepal has also been establishing joint ventures in Malaysia."

At the business networking dinner in Kathmandu, Mohamed Al Amin said the objective of the mission was to expose Malaysian Small, Medium and Micro Enterprises (SMMEs) to business opportunities in the emerging Nepali market.

"We believe that there is a huge untapped potential for business linkages between Malaysian and Nepalese community evidenced by the consistent positive growth in trades between the two nations.

"There is a tremendous scope for promotion of mutually beneficial commercial relations in the area of trade, investment, employment and tourism promotion between the two countries."

Meanwhile Aseh said: "Since 2001, Malaysia has recognised Nepal as a source country for foreign workers".

MNBC president Datuk Pardip Kumar said in the same statement it was a successful business mission and businessmen from both countries leveraged on the opportunities to intensify existing trade relations.

In addition to the Malaysian delegation meeting the Prime Minister, the delegation also had meeting with the two Nepalese Deputy Prime Ministers and the Minister of Commerce. - Bernama

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