Government ready to act on issues raised in investment summit

KATHMANDU: The government is prepared to promptly implement the key issues raised in the third Nepal investment summit, which concluded in Kathmandu on Monday. The government is ready to act on the matters discussed during the two-day summit, held under the auspices of the Investment Board Nepal (IBN) and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).

Sushil Bhatta, Chief Executive Officer of IBN and Member-Secretary of the Investment Summit 2024 Direction Committee, stated that the summit was successful and committed to progressing with a routine follow-up mechanism. "In the case of 12 projects linked to the IBN, or in our work area, we have already published a notice on Sunday setting a deadline of 45 days. We will seek a sealed proposal and proceed with concrete projects," he said.

Bhatta claimed that Nepal has successfully conveyed the message that it has created a competitive environment conducive to investment promotion. According to him, the projects showcased at the investment summit have attracted significant interest from businesspersons, entrepreneurs, and investors worldwide.

Bhatta stated that Nepal has been able to present itself as an attractive investment destination by showcasing priority and potential projects in the areas of energy, information technology (IT), tourism, and infrastructure. Similarly, domestic investors have also stated that an investment-friendly environment is being created in Nepal.

FNCCI President Chandra Dhakal said the conference was successful. "Due to a lack of follow-up, some of the commitments made in previous investment conclaves could not be implemented," he said, adding, "The conference has conveyed to investors that there are investment opportunities in Nepal that can yield good returns."

Dhakal stated that the ordinance issued before the commencement of the third investment summit aimed to encourage the private sector. "We had suggested the government amend specific laws to create an environment conducive to investment," he said.

Investors and development partners from India, China, the US, and other countries have stated that there is potential for investment in Nepal. This has also sent a positive message. Dhakal said investors were eager to invest in Nepal's hydropower, tourism, agriculture, and IT sectors. He also said that the commitment made by all political parties at the investment summit has sent an important message.

According to him, it is now necessary for the government to follow up with investors who have made investment commitments to establish regulations and procedures. An investment-friendly environment has been created with all political parties coming together and committing at the investment conference.

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