KATHMANDU: President Ram Chandra Poudel has enacted an ordinance aimed at streamlining investment processes in Nepal, as revealed by the Office of the President on Sunday.

The ordinance, enacted under Article 114(1) of the Constitution of Nepal and upon the government’s recommendation, signifies a significant step towards facilitating investment in the country.

This development comes amidst the ongoing 3rd Nepal Investment Summit 2024 in Kathmandu, witnessing the participation of over 1,600 individuals.

Notably, 385 participants hail from Nepal, while representatives from 55 countries contribute to the global aspect of the summit.

With a total of 150 projects being showcased across 23 stalls, the summit also focuses on soliciting letters of intent for 19 projects, aiming to further stimulate investment opportunities and economic growth in Nepal.