Government to Showcase 125 National Projects at Nepal Investment Summit 2024
The Government of Nepal is gearing up to present 125 national-level projects during the forthcoming Nepal Investment Summit 2024. Scheduled to commence on April 28 in Kathmandu, the two-day event, themed 'Emerging Nepal,' aims to attract investment and foster economic development in the country. The Investment Board of Nepal (IBN) has extended invitations to over 1,100 potential investors, with more than 100 projects identified as viable for display at the summit.
Prime Minister Pushpa Kamal Dahal, in discussions with development partners, emphasized the government's steadfast commitment to creating a secure and conducive investment climate. He underscored the importance of showcasing feasible projects as a testament to Nepal's dedication to attracting investment, providing a platform for constructive engagement, and facilitating networking opportunities among stakeholders.
Nepal offers promising investment prospects across various sectors, including clean energy, tourism, agro-processing, mining, information and communication technology (ICT), transportation, and manufacturing, among others. Among the highlighted projects are the Nepal-China Friendly Industrial Park in Jhapa, the Upper Marsyangdi-2 Hydropower Project, and grid-connected solar initiatives in Banke and Kapilvastu districts. Additionally, an agreement is anticipated with Dabur Nepal for substantial investment in expanding production capacity.
While the estimated cost of the Nepal-China Friendly Industrial Park stands at $786 million, the Upper Marsyangdi-2 Hydropower Project seeks Chinese investment totaling $647 million. Furthermore, grid-connected solar projects and Dabur Nepal's expansion plan represent significant investment opportunities, highlighting Nepal's appeal to prospective investors. In parallel, the IBN plans to invite expressions of interest for an additional 20 projects, alongside promoting 33 projects in their preliminary stages and advancing 20 projects at the financial closure stage.
Despite previous investment summits in 2017 and 2019 aiming to bolster Nepal's attractiveness to investors, challenges remain in translating summit outcomes into tangible results. While the government has undertaken pre-event activities abroad and streamlined preparations for the upcoming summit, delays in amending relevant legislation persist, hindering progress towards creating a more investor-friendly regulatory environment.
