Domestic, foreign investors assured of investment returns

KATHMANDU: Concerned agencies and experts across various fields have urged both domestic and foreign investors seeking investment opportunities in Nepal to invest confidently, assuring them of the return on their investment.

The speakers at the inaugural session of the Third Investment Summit, which commenced today in Kathmandu, encouraged investors interested in Nepal to maintain high morale, while providing them with information about the local environment.

Finance Minister Barsha Man Pun, who chaired the first main session titled ‘Exploring Investment Opportunities in Nepal’, stated that amendments to the law via the ordinance should be seen as evidence of the government’s commitment to enhancing the investment environment. He added that extensive discussions with the private sector preceded the law amendment, and the process was based on the sector’s suggestions.

According to Minister Pun, the government is making tax laws more investor-friendly. He noted that the government has submitted a new customs bill to the parliament, in line with the World Customs Organisation (WCO) principles and practices, following amendments to some Nepal Acts through the Ordinance.

“Nepal, strategically situated between two large and growing economies, China and India, offers a tremendous opportunity for domestic and foreign investment. The main drivers of Nepal’s economic growth are energy, tourism, information technology, agriculture, and infrastructure development,” said Minister Pun.

The session featured speakers including members of the House of Representatives (HoR) and former Finance Ministers Prakash Sharan Mahat and Yubaraj Khatiwada, along with HoR member Swarnim Wagle, and other distinguished personalities.

Former Minister Mahat emphasised that Nepal’s development and prosperity cannot be achieved through internal resources alone, hence the need for direct foreign investment. He also mentioned that sectoral priorities for investment have been established. Similarly, former Minister Khatiwada suggested creating conditions to ensure easy entry, easy exit, and return.

Lawmaker Wagle highlighted the need for an effective mediation mechanism to facilitate foreign investors in Nepal, particularly in the event of any dispute or problem, within a legally relaxed environment.

The session also featured speakers such as Harjinder Kang, HM Trade Commissioner for South Asia and British Deputy High Commissioner for Western India, UK; Hanaa Singer-Hamdy, UN Resident Coordinator in Nepal; Faris H Hadad-Zervos, World Bank Country Director for Maldives, Nepal and Sri Lanka; Martin Holtmann, International Finance Corporation (IFC) Country Manager for Bangladesh, Bhutan and Nepal; Tidiane Kinda, Mission Chief for Nepal and Deputy Division Chief of the Asia and Pacific Department at the International Monetary Fund (IMF). Other speakers included Ren Xingwen, Deputy Secretary General of Sichuan Province, China; Rajeev Singh, Director General of the Indian Chamber of Commerce; Umesh Prasad Singh, President of Federation of Nepal Cottage and Small Industries; and Shova Gyawali, President of the Federation of Women Entrepreneurs’ Associations of Nepal.

In this session, Rameshwar Khanal, the former secretary of the Government of Nepal, was scheduled to give a presentation.