Investment summit to be made result-oriented

Kathmandu, March 16. Various speakers have laid emphasis on importing foreign investment, skills, technology and capital to propel the agenda of prosperity. At a face-to-face programme organised here today by Reporters Club Nepal, they expressed the hope that the Investment Summit to be held on March 29-30 would contribute to take the country towards the path of prosperity.

On the occasion, Prime Minister’s foreign affairs advisor Dr Rajan Bhattarai said the investment summit would yield definite results to push the agenda of economic development in the context when Nepal has charted a new course following the republican setup. “The government has concentrated its efforts to bring in foreign knowledge, skills, technology and capital since our competence and capacity would not be adequate for the country development”, he noted.

Bhattarai also shared that a total of 382 delegates from 40 countries, including ministers from France and Myanmar have confirmed their participation in the investment summit.
National Planning Commission (NPC)’s former Vice-Chair Dr Shanker Sharma said Nepal has prepared the plans worth Rs 30 trillion in view of the investment summit.

In order to attain economic prosperity, Nepal requires annual budget of Rs 15 trillion and should be able to bring foreign investment of Rs 8 trillion.
Also speaking on the occasion, former Finance Secretary Yubaraj Bhusal said Nepal has witnessed dwindling absorbing capacity and the country’s development has not gained momentum due to low capital spending.

As law and order is the first prerequisite to the economic development of the country, the government should explore proper ways to contain Biplav-led Community Party of Nepal, he added.

Nepal Rastra Bank’s former Governor Deependra Bahadur Kshyatri suggested the government to focus on developing Special Economic Zone to enable environment for inflow of foreign investment. RSS