151 projects to be presented at Nepal Investment Summit

KATHMANDU: One hundred and fifty-one projects will be showcased at the Nepal Investment Summit 2024, taking place in Kathmandu, on April 28 and 29.

The summit aims to implement projects that boost the economy, including the establishment of factories and industries, by attracting foreign direct investment (FDI) in these sectors.

These projects are expected to contribute to the country's overall development. External investment, along with the government's and the private sector's investment, is necessary for managing adequate capital, technology, and human resources for the implementation of these projects.

The 58th Meeting of the Investment Board Nepal has decided to call for a letter of intent and hold extensive discussions with investors for the projects.

Among the projects to be showcased at the summit, the energy sector has the highest number, with thirty-one projects being presented for investment, according to IBN spokesman Pradyumna Prasad Upadhyay. In addition, nineteen projects are related to the transport sector, thirteen to the mining and minerals sector, thirteen to the tourism sector, fourteen to the agriculture sector, five to the production sector, seven to the industrial infrastructure and trade sector, three to the health and education sector, two to the communications and information technology sector, four to the water supply sector, and six to the urban development sector.

The private sector is also showcasing 31 projects for FDI at the Summit. According to Upadhyay, the government has given high priority to private sector investment, including FDI. "Relevant laws have been amended/enacted to foster an investment-friendly environment, accompanied by streamlined procedures aimed at bolstering ease of doing business. To bridge resources and technology gaps for the country’s economic development, the government is resolute in augmenting foreign investment commitments and inflows," Upadhyay added.

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