Investment Summit in March 2019; PM Oli to inaugurate the summit

-RSS

The Investment Summit-2019 is taking place in the capital on March 29-30, 2019 in a bid to promote Nepal as an attractive destination for foreign investment.

The summit is to be organized by the Government of Nepal and co-organized by the Federation of Nepalese Chambers of Commerce and Industry, Confederation of Nepal Chamber and Nepal Chamber of Commerce.

The summit is an effort to raise investment for industries based on energy, information and communications technology, industry, tourism, physical infrastructure, agriculture and forestry.

The summit, to be held under the aegis of Ministries of Finance, Industry, Commerce and Supply and Nepal Investment Board, will endeavour to bring in foreign investment to the sectors which can yield results in coming 10 years.

It will be a grand opportunity to enable environment conducive for flow of investments and exchange national and international experiences on investment.

At a press conference organized by the Finance Ministry today to inform about the summit, Minister for Finance Yubaraj Khatiwada shared that the investors would be informed of political changes and improvements in investment climate after the 2016 Investment Summit, potential new areas of investment and changes in the areas of Nepal's competitive benefits in the changed regional and global context.

Stressing on the need of mobilization of existing resources and means and utilization of innovative technologies for the attainment of 'Prosperous Nepal, Happy Nepali', he said the summit would be useful in importing national and international investments in the effective use of natural resources and means of Nepal.

"The projects with an investment amounting to around Rs 275 billion have been already signed and most of them are hydropower projects. Roughly 23 companies have shown interests on feasibility study of the projects and some of them have already submitted proposals", Minister Khatiwada said while informing about the foreign investment received following the 2016 Summit. Prime Minister KP Sharma Oli is set to inaugurate the summit. The Finance Minister is leading a direction committee with National Planning Commission Vice-Chairperson, secretary of Nepal government and representative private sector as members.

The objective of the summit is to impart a message to the investors that the amendments to Labour Act, contribution based Social Security Act, Industrial Business Act/Regulation, Foreign Exchange Regualtion Act, Public Procurement Regulation have created investment friendly climate in Nepal.