A 12-member team of the Japan Chamber of Commerce and Industry, Singapore (JCCIS) arrived in Kathmandu on Monday to asses the investment climate in Nepal and discuss areas of cooperation.

The team comprises representatives of eight Japanese companies that have expanded their bases to Singapore. These companies are working in sectors ranging from manufacturing, including textile, banking, tourism, oil, gas and logistics.

“We are here because we see an opportunity in this country as it has young workforce and other potential to grow. Lately, the government has also started taking serious initiatives to attract foreign direct investment, which is encouraging,” JCCIS President Tochiori Takuhiro told an interaction organised by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the biggest private sector umbrella body of Nepal, on Tuesday.

Takuhiro said he and his team would meet with domestic entrepreneurs of various sectors in the next three days to explore areas in which cooperation could be exchanged.

FNCCI President Bhawani Rana said: “Foreigners would benefit by investing in Nepal, as the country is a gateway to reach out to markets of India, China and other South Asian countries.”

The event was also attended by Ambassador of Japan to Nepal Masashi Ogawa. JCCIS, established in 1969, has 822 member companies.