KATHMANDU: The government has announced to organise Nepal Investment Summit, 2024 in Kathmandu from April 21 to 22.
Finance Minister Prakash Sharan Mahat led the first meeting of the Nepal Investment Summit, 2024 Steering Committee at the Ministry of Finance on Sunday.
During the meeting, Minister Mahat stressed making the summit different from the previous ones and said the summit should attract more investors.
"This time, we are planning to hold bilateral meetings with possible investors before the summit," he said and informed that the government has a plan for protecting foreign investment by implementing the Bilateral Investment Promotion and Protection Agreement (BIPPA).
According to him, the government is preparing to attract national, NRNs and foreign investors. Foreign ambassadors will be requested to make the event effective.
The finance minister directed the concerned authorities to make preparations for identifying the 'projects of showcase' to be highlighted during the Summit.
On the occasion, National Planning Commission (NPC) member Ram Kumar Phuyal underscored the need for reviewing past investment summits and making corrections accordingly.
Nepal Rastra Bank Governor Maha Prasad Adhikari viewed as we have short time, effective and speedy engagement is imperative.
Former Chairman of the Investment Board, Radhes Pant, stressed making the event result-oriented. He also suggested that the government enforce hedging regulations effectively and manage adequate employees.
Former Chairman of the Confederation of Nepalese Industries, Hari Bhakta Sharma, expressed worry over the non-implementation of previous investment summits.
Talking to media after the meeting, Minister Mahat said the summit aims to attract foreign investment and encourage the mobilisation of domestic investment and investment from non-resident Nepali community. "Nepali embassies abroad will be mobilised for facilitating the hosting of the Summit."
Two committees have been formed in preparation for the Summit: an implementation committee led by the Chief Secretary and a technical committee led by the Secretary at the Ministry of Industry, Commerce, and Supplies. The Summit's Secretariat will be located at the Office of the Investment Board.
