Nepal’s Prime Minister Pushpa Kamal Dahal. File
| Photo Credit: REUTERS
Nepal is a suitable destination for investment and there are immense alternatives within the nation, Prime Minister Pushpa Kamal Dahal ‘Prachanda’ stated on April 28 as he inaugurated a key investment summit right here that can see the participation of round 1,800 individuals from numerous international locations, together with 140 from India.
Inaugurating the third version of the Nepal Investment Summit 2024 with the theme ‘Emerging Nepal’, Mr. Prachanda additionally stated that Nepal is a potential nation for investment from authorized, geographical and strategic views.
“Nepal is a suitable destination for overseas investment,” the Prime Minister stated as he urged traders from throughout the globe to grab the chance and profit from it.
Mr. Prachanda, who’s main a authorities dominated by left events, stated that Nepal is absolutely dedicated to a liberal financial coverage, offering full safety to traders.
He stated that an investment-friendly surroundings has been created within the nation.
Foreign Minister Barshaman Pun welcomed overseas investment as a catalyst for industrial improvement, infrastructure improvement, job creation, export promotion and the switch of data, expertise, and know-how.
He expressed confidence that the summit will result in agreements and collaboration between traders and stakeholders as Nepal’s financial indicators are stabilising and exhibiting optimistic tendencies.
Speaking on the event, India’s Ambassador to Nepal Navin Srivastava stated that the Government of India, in future, will proceed to encourage Indian traders additional in Nepal.
“It is a matter of great satisfaction that India is today the biggest cumulative investor in Nepal with more than 33% of Nepal’s FDI stock currently amounting to nearly Nepali rupees 89 billion,” the diplomat stated.
In a video message, Union Minister for Commerce and Industry Piyush Goyal stated that Nepal and India not solely share border but in addition a deep-rooted friendship and a imaginative and prescient for a affluent future.
“India has always been a trusted partner in Nepal’s development journey,” he added.
The two-day summit will witness the signing of MoUs between Nepal and its improvement companions and overseas traders.
Nepal is showcasing round 146 tasks for potential traders throughout the summit, which has attracted traders from round three dozen international locations, together with India, China, Japan, the U.Okay., the U.S., the UAE and Germany.
In 2017, Nepal hosted the primary investment summit, drawing investment commitments price $13.5 billion from completely different international locations.
Similarly, the second investment summit held in 2019 secured practically $12 billion for 50 tasks. However, solely one-third of the commitments have been realised in precise follow.
Over 200 traders from China and over 140 from India are attending the two-day summit.