Nepal Investment Summit receives pledge of $13.52 billion

A total pledge of 13.52 billion US dollars was made at the Nepal Investment Summit 2017 held in Kathmandu on March 2-3. China committed the highest investment with a pledge of $8.3 billion. Bangladesh has committed to invest $2.4 billion, Japan and UK each pledged $1 billion, Sri Lanka $500 million and India $317 million. Nepali businessmen have also committed to invest $11.5 million during the Summit. Papers on energy, infrastructure, tourism, information technology, financial sector, mines and minerals, agriculture and forest products among others were presented at the Summit jointly organised by Ministry of Industry and Investment Board Nepal (IBN). IBN CEO Maha Prasad Adhikari said that government would work towards creating a conducive environment and simplify the process for foreign investors. This is the second time an investment summit has taken place in the country. The first was held in 1990s.