March 21: The Russian government has shown interest to invest in Nepal’s hydropower sector and chemical fertilizer plant. Russia's ambassador to Nepal, Aleksei Novikov, during a meeting with Finance Minister Bashaman Pun on Wednesday, said Russia was positive towards investing in the hydropower sector and fertilizer plant in Nepal.

He said that Nepal, geopolitically, presents a highly potential and positive zone for the Russian investment. He made such remarks during his visit to congratulate newly-appointed Minister Pun at his office after the finance minister requested the Government of Russia to invest in Nepal's hydropower sector and chemical fertilizer industry.

During the meeting, Minister Pun assured the Russia's ambassador that the government has guaranteed an international market for consumption of power generated in the country.

“Nepal's hydropower sector is a suitable area for investment for the international community," Minister Pun said, adding that the government has adopted a policy to open a chemical fertilizer factory within the country. "If Russia is interested in investing, we are ready to enable an atmosphere towards this end," he said.

The minister also urged the Russian ambassador to encourage more investors from his country to join the upcoming Nepal Investment Summit on April 28-29.

In response, the ambassador welcomed the Minister's proposal, pledging to talk with investors in Russia about the matter. According to the ambassador, a delegation from the Russian Chamber of Commerce and Industry was supposed to visit Nepal on Thursday to assess the potential areas for investment through the Nepal Investment Summit.

The delegation will engage in discussions with government officials, the representatives of Investment Board Nepal and the private sector.