Nepal Investment Summit 2024: Finance Minister Highlights Investment Potential, Two Key MoUs Signed with Chinese Companies

The second day of the Nepal Investment Summit 2024, inaugurated in Kathmandu on Sunday, saw an array of discussions encompassing various pivotal topics.

Finance Minister Barshaman Pun, in his address during the summit's opening session, emphasized Nepal's appeal as a lucrative destination for international investment. He underscored the primary objectives of the summit, aiming to project Nepal as an emerging hub for private sector investment, showcase recent reforms fostering an investor-friendly climate, exhibit a diverse portfolio of projects across sectors, facilitate constructive negotiations leading to agreements and Memoranda of Understanding (MoUs), and provide a platform for networking among policymakers, investors, and experts to foster collaborative ventures.

Minister Pun highlighted the abundance of investment opportunities awaiting exploration, indicating Nepal's sustained macroeconomic stability and the evolving economic landscape buoyed by a federal governance structure. Noteworthy advancements in clean energy, tourism, IT, agriculture, and agro-based industries were acknowledged as pivotal drivers of Nepal's economic trajectory.

Recognizing the pivotal role of foreign investment in catalyzing industrial development, infrastructure growth, job creation, and technology transfer, Minister Pun reiterated the government's commitment to fostering collaboration through direct private investment and public-private partnerships, expressing gratitude to development partners for their support in creating an enabling investment environment.

Moreover, the signing of two Memoranda of Understanding (MoUs) marked a significant milestone during the summit, with Nepal's private sector facilitating investment from Chinese companies. One MoU, inked between Nepal's Next Gen Management Solutions Pvt Ltd and China's 'MABC Investment Pvt Ltd,' aims to facilitate foreign investment in Nepal. The second MoU, between Nepal's Federation of Nepalese Industry and Commerce (FNIC) and China Dongguan Jingliang Lighting Product Company Ltd, similarly focuses on facilitating investment endeavors. Ambassador of Nepal to the People's Republic of China, Bishnu Pukar Shrestha, graced the MoU signing ceremony, underscoring the diplomatic significance of these agreements in fostering bilateral economic ties.