KATHMANDU: On the first day of Nepal Investment Summit 2019, Prime Minister KP Sharma Oli and other government officials urged foreign investors to invest in Nepal arguing that an investment-friendly environment is in place.
Inaugurating the summit, PM Oli said that Nepal is a virgin land where immense opportunities are awaiting for investment. Likewise, Finance Minister Yubaraj Khatiwada and other government officials urged for investment saying that necessary laws have been already promulgated.
Beside from the opening ceremony, officials briefed potential investors regarding 77 projects of different sectors showcased at the Summit.
Addressing the Summit, Minister for Energy, Water Resources and Irrigation, Barshaman Pun said the government has put energy in top priority as the sector is the major basis of country’s economic transformation. Addressing a session on ‘ Energy for Economic Prosperity’, Minister Pun said that the government has set a target to produce 15,000 megawatt power within next 10 years and export 5,000 MW.
Potential investors attending the Summit have showed interest for investments in energy, agriculture, physical infrastructure and tourism.
Vice president of the Asian Development Bank Shixin Chen said investments had already been made in energy, drinking water, town infrastructure and education of Nepal, and strategies had been made for more investments. He referred to the Bank’s investment in Melamchi Drinking Water Project, Gautam Buddha International Airport.
U Thaung Tun, Minister for Investment and Foreign Economic Relations of Myanmar, suggested that Nepal should focus on agriculture to boost its economy while referring to progresses it has achieved in poverty alleviation, trade increment and attracting foreign investment.
The Summit is participated by 600 investors from 40 countries. The summit titled ‘A Promising Investment Destination’ has showcased a total of 77 projects in various sectors, worth $31.93 billion.
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