Third Investment Summit rescheduled for April 28-29

KATHMANDU, JANUARY 3: The Third International Investment Summit, initially scheduled for April 21-22, has been rescheduled to take place on April 28 and 29. Sushil Bhatta, the Chief Executive Officer of the Investment Board and member secretary of the Investment Summit Steering Committee informed that the date for the Summit has been rescheduled.

The revised schedule is set to be endorsed during the second meeting of the Steering Committee at the Finance Ministry today. The Steering Committee, led by Finance Minister Prakash Sharan Mahat, is responsible for approving the schedule and format of the Summit, identifying areas for policy reforms to enhance the investment atmosphere, and overseeing all aspects of the Summit.

Its members include ministers from various sectors such as foreign affairs, energy, water resources and irrigation; physical infrastructure and transport; culture, tourism and civil aviation; industry; agriculture; urban development; federal affairs; and general administration. It also includes the vice-chair of the National Planning Commission, the chief secretary, the governor of Nepal Rastra Bank, the secretary at the Office of the Prime Minister and Council of Ministers, the finance secretary, the industry secretary, and representatives from the private sector.

The first meeting of the Steering Committee, held on November 26, directed the government to facilitate discussions with potential investors, identify likely investors, call for project proposals, and secure their endorsements. In preparation for the Summit, the Implementation Committee and the Technical Committee have been formed to undertake legal and structural reforms and to inform investors about the event.

The Implementation Committee, coordinated by the chief secretary, recently issued a circular through the Ministry of Federal Affairs and General Administration to province and local levels, seeking details of viable projects to be presented as showcase projects during the Summit.