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Thu, June 13, 2024

Prime Minister briefs development partners and diplomatic community

B360
B360 April 9, 2024, 5:01 pm
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KATHMANDU: Prime Minister Pushpa Kamal Dahal "Prachanda" held discussions and consultations with heads of diplomatic missions in Nepal, development partners, and representatives of United Nations agencies regarding the upcoming Third Nepal Investment Summit scheduled for Baishakh 16 and 17.

The Prime Minister informed the attendees about significant legal, institutional, and procedural reforms undertaken by Nepal to improve the investment environment. He also highlighted various investment projects that are ready for implementation.  He emphasized the Nepal government's expectation for the diplomatic missions and development partners to facilitate significant participation from potential foreign investors in the summit.

“The Government of Nepal is expecting the diplomatic community and development partners to disseminate an appropriate message as the Investment Summit will be a plaform for showcasing, market sounding and solicitation of the projects. I belevie this will be an opportunity for foreign investments,” the Prime Minister stated, adding, “The government is committed about protecting investments and will promptly resolve issues being faced by the investors and provide them effective handholding for the entire business cycle.”

The Prime Minister highlighted that the success of the investment summit hinges on the commitment to invest in projects and their subsequent realization. He mentioned the systematic facilitation of foreign investments through the Investment Board Nepal and the Department of Industry.  He further conveyed the government's initiative to incorporate suggestions from diplomatic missions, donor agencies, and investors to make Nepal a prime destination for investment.

During the discussion program, Chief Secretary Baikuntha Aryal informed the audience that the framework for bilateral investment treaties has been approved by the Council of Ministers. He also stated that the list and details of projects to be showcased at the investment summit will be made public soon.

At the program's beginning, Sushil Bhatta, CEO of the Investment Board Nepal, delivered a presentation on the preparations for the upcoming investment summit, the legal reforms underway, and the projects to be showcased at the event. He elaborated that the summit will bring together policymakers, the private sector, investors, development partners, lenders, development finance providers, banks and financial institutions, experts, and think tanks.  He highlighted that the summit will provide a platform for networking, exploring investment opportunities, and reaching investment agreements for both foreign and domestic investors, as well as other participants.

During the discussions, ambassadors and representatives of development partner organizations expressed interest in the details of legal amendments, project descriptions, and bilateral investment protection agreements. They reiterated their commitment to supporting the complete success of the investment summit.

The program was attended by the Minister of Foreign Affairs, the Minister of Finance, the Minister of Energy, Water Resources and Irrigation, and secretaries from the Government of Nepal.

 

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MAY 2024

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