China Mobile Announces $1 Billion Investment for Nepal Mobile Data Network
Key Takeaways
- China Mobile to invest $1 billion in Nepal's telecommunications sector
- Funds will establish a new mobile data network, per UNCTAD's 2021 report
- No formal talks with Nepal's government have occurred yet
China Mobile to Invest $1 Billion in Nepal's Mobile Data Network
China Mobile, a major telecommunications firm in China, has announced plans to invest $1 billion in Nepal's ICT sector, according to the United Nations Conference on Trade and Development's (UNCTAD) 2021 World Investment Report. The investment will be used to build a mobile data network within the country.
The report identifies the project as part of the ICT sector and notes that it has already commenced, although no official discussions have taken place with Nepal’s government authorities. Jiv Lal Bhushal, Director General of the Department of Industry, mentioned that such large-scale investments must first be reviewed by the Investment Board before proceeding.
Sushil Bhatta, CEO of the Investment Board, confirmed that he has not been informed of any concrete plans at this stage but expects the proposal to reach regulatory channels soon. China Mobile has not publicly disclosed details about the project. However, the company's 2017 Sustainability Report, titled “Connecting the New Era,” highlights its strategy to expand infrastructure projects that connect nations through cross-border optical fiber lines linking Nepal, Myanmar, Pakistan, and Kyrgyzstan.
