Legal amendment a priority to attract foreign investment: PM Dahal

KATHMANDU: The 57th Board meeting of the Investment Board Nepal chaired by Prime Minister Pushpa Kamal Dahal 'Prachanda' approved investments worth NPR 99.20 billion for four energy projects- Super Tamor, Upper Modi A, Lower Manag HEPs & 250 MW Solar Energy Project. Further, the Board instructed the concerned agencies to convene Nepal Investment Summit 2024 effectively.

Prime Minister has said the government accords priority to the amendments to laws to bring in foreign investment as per the commitment. 
Addressing the 57th meeting of the Investment Board Nepal today, the Prime Minister said the government prioritizes the legal amendments as it seeks to mobilize domestic and foreign investment in the country's infrastructure and service sectors.

On the occasion, he underlined the need to send a message to the international community that Nepal enables an atmosphere for investment.

This meeting is taking place on the eve of the Investment Summit and time demands to mobilize our mechanism for promoting the message about the situation suitable for investment internally, according to the PM, who insisted on the need for promptness and smartness in our service delivery.  "Ministries and departments of office should focus on results-based performance to convince the foreign community to invest in Nepal."

He stressed that the Board should make additional efforts to enable an atmosphere for the mobilization of private investment on a large scale.

According to the Board Chair, it is necessary for the government and the Board as well to create a base for rapid economic growth and transformations in a short time, instilling a ray of hope among the people.

Underlining the need to build an environment for public-private partnerships in Nepal, the Prime Minister instructed the Board to focus on towards that end.

He also underscored the need to orient the government bodies and province and local levels about exploring the results-based PPP projects and implementing them successfully.

By RSS