KATHMANDU: International investors have shown interest in investing in Nepal, according to Finance Minister and Coordinator of the Investment Summit Steering Committee, Dr. Prakash Sharan Mahat.
The third meeting of the Third Investment Summit Steering Committee, convened by Committee Coordinator and Finance Minister Dr. Mahat, addressed inquiries and discussions related to policies, laws, and structural reforms, as well as projects prepared for the investment summit.
Finance Minister Dr. Mahat instructed the committee to prepare projects with due seriousness, emphasizing the need for international investors to be attracted to invest in Nepal.
“The Summit presents an opportunity for us to attract investment. The government is consistently prepared for legal and policy-level reforms to attract both foreign and Nepali investors, as well as non-resident Nepalis, to invest in Nepal,” he stated.
Dr. Mahat emphasized that the primary goal of the Summit is to communicate to the wider world that Nepal is the best destination for investment.
To achieve this, he suggested simplifying provisions for investment facilitation, project implementation, operation, and profit repatriation.
The Finance Minister disclosed that the World Bank is set to organize its IEG conference in Nepal in June, with formal communication expected in the coming days.
This international conference will be attended by representatives from over 92 countries, including the World Bank President.
The Investment Summit is scheduled to take place on April 28 and 29 before the World Bank conference, and Dr. Mahat expressed optimism that a result-oriented Summit could lead to increased private investment in Nepal, not only from multinational companies.
Coordinator of the Policy, Law, and Structural Reform Taskforce and Secretary at the Office of the Prime Minister and Council of Ministers, Ek Narayan Aryal, presented a report on legal and policy-level improvements.
The report, developed with input from the private sector and incorporating feedback from the Investment Summit Implementation Committee meeting under the Chief Secretary’s coordination, will serve as the basis for the ‘Bill Designed to Amend Some Nepal Acts for Facilitation of Investment, 2024.’
This bill will be prepared through the Ministry of Industry, Commerce, and Supplies and will undergo the parliamentary process for endorsement following approval from the Council of Ministers.
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