Nepal Investment Summit 2024 to Showcase 151 Projects, Emphasizing Economic Development
The upcoming Nepal Investment Summit 2024, scheduled to take place in the federal capital on April 28 and 29, is poised to feature a diverse array of 151 projects aimed at bolstering the nation's economy. With a primary objective of attracting foreign direct investment (FDI) to fuel the establishment of factories and industries across various sectors, the Summit aims to catalyze the implementation of these projects for comprehensive national development.
These projects are perceived as vital contributors to the country's overall progress, highlighting the imperative of external investment alongside government and private sector contributions to secure the necessary capital, technology, and human resources required for successful project execution. The 58th Meeting of the Investment Board has taken decisive steps to facilitate project realization by initiating calls for letters of intent and engaging in extensive discussions with potential investors.
Notably, the energy sector emerges as a focal point, with 31 projects slated for presentation at the Summit, as revealed by Board spokesman Pradyumna Prasad Upadhyay. Additionally, a diverse range of projects spanning sectors such as transport, mining and minerals, tourism, agriculture, production, industrial infrastructure and trade, health and education, communications and information technology, water supply, and urban development are set to be showcased.
In tandem with government initiatives, the private sector is also poised to unveil 31 projects aimed at attracting foreign direct investment during the Summit. Upadhyay underscored the government's steadfast commitment to prioritizing private sector investment, including FDI, citing recent legislative amendments and enactments designed to cultivate an investment-friendly environment and streamline procedures to enhance ease of doing business.
With a concerted focus on bridging resource and technology gaps to drive economic development, the government remains unwavering in its efforts to bolster foreign investment commitments and inflows. The Summit serves as a pivotal platform for forging strategic partnerships and fostering collaborative endeavors to propel the nation towards sustainable growth and prosperity.
