In 2013, China unveiled its dream of retrieving the ancient Silk Road by undertaking massive infrastructure projects and adding value to ports around the Silk Road. The Belt and Road Initiative ("BRI") refers to China's proposed Silk Road Economic Belt and Maritime Silk Road This big project has recently been accepted by Nepal. Nepal has its own foreign direct investment ("FDI") laws and policies. This paper aims to analyze these laws and policies from the perspective of China's BRI. The specific objective is to explore the importance of BRI in Nepal and the major challenges for its implementation in reference to Nepalese FDI laws and policies. The essence of BRI is to promote regional and crosscontinental connectivity between China and other countries along the Belt and Road. The BRI is relevant to social, cultural, and economic development of its associated countries. Trans-Himalayan connectivity, political transition of Nepal and property right of Nepal is the leading challenges for BRI implementation in Nepal.
This article explores the Belt and Road Initiative (BRI) and its role as an agent to bind the relationship between the sea and landlocked countries, while pointing out the necessity of alternative sea access to the land-locked countries especially during situations like blockade. The BRI is a Chinese development project with five main objectives: connectivity of infrastructure, policy coordination, unimpeded trade, financial integration, and people-to-people bonds. The objective of connectivity of infrastructure is pivotal to land-locked countries and their access to the sea. The study establishes that the BRI’s proposed six corridors and one maritime route are useful for land-locked countries. Nepal is one of the landlocked countries and many times suffering from blockade from its neighboring country especially India. Therefore, this study aimed to identify whether the BRI is necessary or not to avoid the potential blockade from its neighboring countries. The study is mainly focused on the secondary data of import and export, and the impact of blockade on import and export in Nepal. Situations like blockade seriously impact countries’ export-import activities, and especially those of land-locked countries. The BRI and the Nepal-China Transit Transport Agreement have secured sea rights to Nepal via Chinese territory. The BRI provides a solution for land-locked countries against the continuing threat and problems created by blockade. Therefore, this study strongly recommend to Nepal Government to work seriously through BRI for further Nepal’s developmental process and country’s rapid economy growth in the future.
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