Preparations for Nepal Investment Summit over

Kathmandu, March 28. The preparation of the Nepal Investment Summit is over now. The Summit is going to be organized, aiming at inviting foreign investment to accelerate development activities and prosperity campaign.

 Most of the invited leaders and investors have arrived in Kathmandu. Over 400 invitees have arrived in the capital so far and others are on the way.

The Summit venue Hotel Soaltee has shared that it has made all necessary preparations for the event. A total of 77 projects are in showcase for the Summit. It is stated that the security has been beefed up in the capital in view of the mega event.

Preparations have been made to sign on over a dozen of projects in course of the event. Government Spokesperson Gokul Banskota has shared that over 600 investors including 40 VVIP delegates will attend the Summit. Nonresident Nepalese investors are also attending it.

According to Minister for Communications and Information Technology Banskota, the enthusiasm has been found in investors and environment for the investment was made conducive and friendly.

The Summit was going to be organized to accelerate the goal of development and prosperity as the nation achieved political stability after long time. All the Chief Ministers of seven States have arrived in Kathmandu to attend the event and they would also purpose some projects to attract the investment.

Prime Minister KP Sharma Oli is scheduled to inaugurate the Summit at 9:00 am tomorrow. The inaugural session would be addressed by PM Oli, Finance Minister Dr Yubaraj Khatiwada, Union Minister for Investment and Foreign Economic Relations of Myanmar, U ThaungTun, World Bank’s Vice Chair, Asian Development Bank Vice-chair, and Investment Board CEO Maha Prasad Adhikari.

Similarly, discussion would be held on opportunity of investment in Nepal, ‘Energy and Information Technology’ and issue of development of women and youth entrepreneurship in business on Friday itself.

Projects related to agriculture, hydropower, tourism, transport, education and health would be presented in the Summit which will run till Saturday.

The government has recently passed the ‘Public-Private Partnership and Investment Act’, and ‘Foreign Investment and Technology Transfer Act’ through the federal parliament and has amended ‘Special Economic Zone Act’ keeping in mind the investment.

There would be the participation of high-level personalities of world renowned companies including Microsoft, Power China, China Railway, Dabar and Unilever. The government has clarified that the Summit is an important opportunity to make government’s goal of ‘Prosperous Nepal- Happy Nepali’ a success.

Projects ranging from Rs 640 million to Rs 350 billion would be presented before the Summit. Eight big projects giving special priority to energy sector have been selected. The government had organised an investment summit in 2048 BS for the first time. Similarly, the second investment summit was organised in 2073 BS.

The government has expected that the Investment Summit would be a milestone to bring in foreign investment for country’s economic growth and prosperity. As per the government, an environment has been created where investors can invest in the projects of their interest after the government cleared the legal and policy-level hurdles. RSS