International Investor Interest: FM Mahat's Initiatives in Nepal's Investment Landscape
Dr. Prakasharan Mahat, the Minister of Finance and Coordinator of the Investment Conference Steering Committee has highlighted the keen interest expressed by international investors to invest in Nepal. Leading the third meeting of the 3rd Investment Conference Steering Committee, chaired by Dr. Mahat, discussions centered around reports and projects addressing policies, laws, and structural reforms pertinent to the investment conference.
During the meeting, Finance Minister Dr. Mahat emphasized the need for meticulous preparation of projects, given the growing enthusiasm among international investors to invest in Nepal. He underscored the conference as an opportune platform to attract investments, expressing the government's perpetual readiness to enact legal and policy reforms to appeal to both foreign and Nepali investors, including non-resident Nepalis. The primary objective of the investment conference, he asserted, is to disseminate information about investment opportunities globally.
In a noteworthy development, Minister Dr. Mahat informed the attendees that the World Bank is poised to organize a conference of World Bank subsidized lending institutions in Nepal the following June, potentially hosting representatives from over 92 countries, including the World Bank president. Anticipating the largest international conference in Nepal to date, he emphasized the potential for not only attracting multinational companies but also fostering increased private investment in the country.
Addressing the obstacles in the legal and policy landscape related to industry, business, and investment, the meeting focused on passing several acts and regulations. These include the Industrial Business Act 2076, Foreign Investment and Technology Transfer Act 2075, Special Economic Zone Act 2073, Forest Act 2076, National Parks and Wildlife Conservation Act 2029, Land Act 2021, Land Acquisition Act 2034, Environment Protection Act 2076, Electronic Business Act 2063, Nepal Civil Aviation Authority Act 2053, Foreign Investment and Technology Transfer Regulations 2077, and Forest Regulations 2079.
Additionally, the meeting included presentations from Ek Narayan Aryal and Mukund Niraula on legal and policy reforms and the preparation of projects for the third investment conference, respectively. Notable figures from various sectors, including energy, water resources, irrigation, industry, commerce, supply, agriculture, livestock development, culture, tourism, civil aviation, urban development, forestry, and environment, as well as representatives from the National Planning Commission, Confederation of Nepal Industry and Commerce, and Nepal Chamber of Commerce, were present.
