Kathmandu: An international business cooperation agreement aimed at promoting bio-oil investment and energy innovation in Nepal has been signed. The agreement was announced during a special ceremony held on Monday at Hotel Manang in Thamel, Kathmandu.
The event, titled “Business Cooperation Agreement Ceremony,” brought together representatives of Source and Choice International Energy LLC from the United Arab Emirates, MABC Investment Group Ltd. from South Korea, and Jeju Bio Oil Co. Ltd. from South Korea. The parties expressed their commitment to establishing a long-term partnership focused on sustainable energy development and investment.
Held under the theme “Together for a Sustainable Future,” the ceremony highlighted the importance of global partnership, trust, growth, and future-oriented cooperation. Participants emphasized the need for stronger international collaboration to advance sustainable energy solutions and create new opportunities for economic development.
The agreement is expected to support bio-oil investment, promote alternative energy initiatives, facilitate technology transfer, and encourage innovation in Nepal’s energy sector. Speakers at the event noted that international cooperation among private-sector organizations plays a vital role in achieving sustainable development goals and addressing future energy challenges.
The ceremony was attended by Abdul Razak, Chairman of Source and Choice International Energy LLC; Mr. Lee Geonyong, Chairman of MABC Investment Group Ltd.; and Mr. Kim ByoungYeol, Chairman of Jeju Bio Oil Co. Ltd.
In recent years, Nepal has intensified efforts to expand partnerships with international companies and institutions in the fields of energy, investment, and sustainable development. The agreement reflects a growing interest in fostering cross-border collaboration to support innovation and long-term economic growth.
Aarya Media House served as the official media partner for the event.
