Kathmandu : The Investment Summit, organised to attract foreign investments to serve the government’s goal of economic prosperity, has kicked off on Friday.
Prime Minster KP Sharma Oli inaugurated the Summit at Hotel Soaltee Crowne Plaza in Kathmandu.
Foreign investors are anticipated to get attracted to Nepal as the country has enabling environment for industry and business as well as abundant natural resources and means.
Finance Minister Dr Yubaraj Khatiwada delivered welcome remarks and also informed about programme and areas of investment for development and prosperity.
Here are the major points
- A major investment promotion initiative of the Government of Nepal, is a continuous effort and commitment to attract and encourage investment.
- The investment summit is timely and is a crucial platform to persuade the world to do business in Nepal.
- Third summit of its type after the first in 1992 and second in 2017.
- Over 600 foreign delegates from 40 countries are participating.
- The Summit will bring together prominent national and international speakers, dignitaries, policy-makers as well as sector-specific experts and, more importantly, high-level representatives of the governments.
- Nepal is showcasing 77 projects for the summit including 50 from the government sector and 22 from the private sector worth $31.98 billion.
- To project Nepal as a favorable investment destination by unveiling potential opportunities for investment in the sectors such as Energy, Tourism, Industry, Transport Infrastructure, Information and Communication Technology, and Agriculture.
- Receiving first-hand knowledge and feedback on policy reforms from key business players in entering Nepal.
- The Summit will provide a platform for global investors to deepen their understanding of the investment environment and opportunities in Nepal.
- Receiving first-hand knowledge and feedback on policy reforms from key business players in/entering Nepal.
- The government has introduced a number of business-related laws targeting this summit.
- Frequent power cuts, which remained one of the major setbacks for industrial growth have also been addressed.
- Expert say Nepal should focus on building a comparatively advantageous market in the region in a bid to attract foreign investment.
- Nijgad Int’l airport, East-west electric railway, Kathmandu-Pokhara-Lumbini Railway, Metreo Railway in Kathmandu, West seti hydropower project Sunkoshi hydropower project and Hetauda Smart city project are the key projects being showcased by the government.
- The government expects the summit to be helpful towards achieving PM’s signature goal of “Prosperous Nepal Happy Nepal”
- 12 MoU’s are expected to be signed with multiple investors for different projects during the summit.
- 10 sessions are planned for discussions on different issues of investment in Nepal.
- More than 6,000 security personnel are being mobilized.
