Tue, May 21, 2024

Minister Mahat directs to expedite preparation for Investment Summit

B360 January 19, 2024, 5:43 pm
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KATHMANDU: Finance Minister Prakash Sharan Mahat has instructed committees and task force for Nepal Investment Summit to expedite policy, legal, and procedural reforms, as well as project preparation. 

At the second meeting of the steering committee for the investment summit, at the Ministry of Finance today, Minister Mahat stressed that the summit prioritises attracting investment from foreign investors, non-resident Nepalis, and the domestic private sector. He urged the private sector to provide concrete suggestions by identifying potential foreign investors and projects.

The government is organising the Nepal Investment Summit in partnership with the private sector and development partners on April 28 and 29.

Sushil Bhatta, Chief Executive Officer of the Investment Board and member secretary of the Investment Summit Steering Committee, gave a brief presentation on the preparations for the summit.

The government has established a steering committee coordinated by the finance minister, an implementation committee led by the chief secretary, a technical committee coordinated by the secretary of the Ministry of Industry, Commerce, and Supplies, and the Summit's Secretariat coordinated by the Investment Board CEO. Likewise, a task force has been formed under the coordination of secretary at the Office of the Prime Minister and Council of Ministers (Economic Infrastructure Division) for policy, procedural, and legal reforms. The committees and task force are working in their respective areas.

Minister for Industry, Commerce and Supplies, Minister for Energy, Water Resources and Irrigation, Minister for Forests and Environment, Minister for Culture, Tourism and Civil Aviation, Minister for Urban Development, Vice-Chairman of National Planning Commission, Chief Secretary, secretaries from various ministries, Deputy Governor of Nepal Rastra Bank, and presidents of umbrella organisations of private sectors — Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI), and Nepal Chamber of Commerce (NCC) — were present at the meeting.

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