EU-Nepal Business Forum: PM Dahal stresses Nepal’s commitment to entrepreneurship, green economy

KATHMANDU: Prime Minister Pushpa Kamal Dahal declared that the Government of Nepal has a policy of promoting a culture of innovation and entrepreneurship and streamlining the investment process.

He made this statement during his address at the opening ceremony of the ‘EU-Nepal Business Forum 2024’ in Kathmandu today.

The ‘EU-Nepal Business Forum 2024’ is being held to mark the 50th anniversary of the establishment of Nepal-EU diplomatic relations, with the aim of attracting European investment to Nepal.

The ongoing second meeting of the EU-Nepal Business Forum is scheduled to run till May 16. Representatives from companies across EU countries are attending the meeting to explore potential investment opportunities in Nepal.

In his address at the ceremony, PM Dahal explained that Nepal’s policy of creating a robust economic structure enhances international partnerships and aids in economic expansion.

He stated that there was enthusiastic participation from more than 50 countries worldwide in the recent investment summit held in Nepal, and a message was disseminated that the international community was excited to invest in Nepal.

On the occasion, Prime Minister Dahal emphasised that Nepal was ready for further collaboration with EU member countries in Nepal’s effort to attract foreign investment, according to PM Dahal’s Private Secretariat.

He pointed out that Nepal aims to graduate from the status of a least developed country by 2026 and to achieve the sustainable development goals (SDGs) by 2030. The Prime Minister highlighted the need for adequate investment and the transfer of the required technology by foreign partners to fulfil these goals.

He shared that the government has recently initiated the ‘automated route’ for foreign direct investment (FDI) of up to Rs 500 million and expressed the belief that this initiative will bring managerial capacity and capital into Nepal.

“We have approved some applications for investment received via the automated route. We have been trying to strengthen our initiatives through international partners. This will bring not only capital but also technical and managerial expertise to Nepal,” he said.

Prime Minister Dahal asserted that the Government of Nepal prioritises environmental sustainability and a practicable green economy. He said the government is consistently working on the promotion of renewable energy projects, sustainable agricultural practices, and the attainment of environmental goals.

“Our development activities are in harmony with national interests and global environmental objectives. Nepal is always committed to the Paris Agreement, and we have been actively incorporating climate actions into our development plans and programmes,” he added.

The Prime Minister reiterated that, despite resource and capacity gaps and the constant challenges posed by climate change, Nepal is committed to reaching the zero carbon emission milestone by 2045.

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