Nepal has become destination for foreign investment: Minister Pun

KATHMANDU: Finance Minister Barsha Man Pun has stated that Nepal has become a destination for international investment. 

In the inaugural session of the Nepal Investment Summit, Minister Pun, who also serves as the Vice Chairperson of the Investment Board Nepal (IBN), expressed that the primary objective of the summit is to showcase Nepal as an investment destination. He extended his gratitude to the summit's attendees for their interest in exploring investment opportunities and possibilities.

Minister Pun explained that the summit aims to inform about Nepal's recent regulatory reforms to promote both foreign and domestic investment. It also provides a platform for a detailed presentation of various projects, including those ready for investment. He anticipated that the summit would foster numerous agreements and understandings between investors and stakeholders, as well as agreements related to project development and management.

The Minister expressed his belief that the summit will serve as an opportunity for policymakers, investors, experts, and other stakeholders to exchange ideas and network for cooperation in areas such as industry and infrastructure development.

Minister Pun highlighted that Nepal's economic indicators are becoming stable and positive, and the country has recently achieved significant accomplishments in the fields of Clean Energy, Tourism, Information Technology (IT), Agriculture, and Agriculture-based industries.

He emphasised that Nepal has prioritised foreign investment promotion, as domestic investment and the market alone are insufficient to achieve high economic growth targets. Minister Pun encouraged foreign investors to invest with confidence, stating that the success achieved by current foreign investors and the return on investment confirms that Nepal is an optimal destination for investment.

"With the aim of improving the business environment and increasing investor confidence, we have implemented various policy reforms," the Minister said. He added that policy and procedural difficulties involved in starting a business have been improved, and transparency and accountability in public governance have been ensured. He assured that this process will continue in the future.

Minister Pun asserted that Nepal has adopted a policy of welcoming foreign investment as a catalyst for industrial development, infrastructure development, job creation, export promotion, and the transfer of knowledge, skills, and technology. He mentioned that the government is committed to cooperating with the private sector through private direct investment as well as public-private partnerships.

Finance Minister Pun expressed his belief that the Third Investment Summit will prove to be a milestone in highlighting Nepal's abundant investment potential and achieving the goal of sustainable economic growth.