The initial talks kicked off with the Sri Lanka Embassy in Nepal and the Export Development Board of Sri Lanka (EDB) via a virtual meeting yesterday.

Acknowledging Nepal as an important market for joint ventures in the construction industry, EDB Chairman Suresh de Mel expressed confidence in the ability of the local construction sector in catering to the requirements of the new market.

He pointed out that by partnering with Sri Lanka, Nepal stands to benefit from Sri Lanka’s expertise in green construction, urban infrastructure, soil and geology, hydropower and low-cost housing.

The local construction sector, represented by the Major Constructors' Association of Sri Lanka (MCSL), Small Hydro Power Developers' Association, Sri Lanka Institutes of Architects as well as the Chamber of Construction Industries of Sri Lanka, received firsthand insights on the market from the Federation of Contractor's Association of Nepal, Nepal Engineers' Association and Society for Consulting Architectural and Engineering Firms (SCAEF).

The representatives provided an overview of the Nepali market, elaborating on investment opportunities in road and transport development, Highways and railways, physical infrastructure including water and sanitation and smart city projects.