Gov to tackle main issues raised in Investment Summit immediately

KATHMANDU, MAY 1: The government is set to immediately deal with the key issues raised in the third Nepal investment summit that concluded in Kathmandu on April 29 . The two-day summit was held under the aegis of the Nepal Investment Board (NIB)  and Federation of Nepalese Chambers of Commerce and Industry (FNCCI).

Chief Executive Officer of the NIB and Member-Secretary of the Investment Summit 2024 Direction Committee, Sushil Bhatta,  expressed satisfaction with the summit’s success and committed to follow-up with a routine mechanism. He divulged that in order to drive the 12 projects linked specifically to the Board forward, a notice with a 45-day deadline for sealed proposals was published on April 28.

Bhatta asserted that Nepal has effectively communicated its commitment to creating a conducive and competitive environment for investment promotion. “The showcased projects at the summit garnered significant interest from businessmen, entrepreneurs, and investors worldwide. This signalled Nepal as an attractive investment destination in the areas of energy, information technology, tourism, infrastructure, etc.”

Chandra Dhakal, Chairperson of FNCCI, also hailed the success of the conference, acknowledging past challenges in implementing commitments from previous investment conclaves due to lack of follow-up. He highlighted the importance of the recent ordinance issued to encourage the private sector and suggested amending specific laws to further facilitate investment.

Investors and development partners from India, China, the US, and other countries expressed interest in investing in Nepal, particularly in sectors such as hydropower, tourism, agriculture, and information technology, according to him.

Dhakal emphasized the significance of political parties’ unified commitment during the investment conference and stressed the need for the government to follow up with investors and streamline regulations and procedures to maintain an investment-friendly environment.