Embassy of Nepal organises "Pre-Nepal Investment Summit 2024: Industry Outreach Meet"

KATHMANDU: The Embassy of Nepal in India organised a "Pre-Nepal Investment Summit 2024: Industry Outreach Meet" in New Delhi on Thursday, Chaitra 29.  In the run-up to the 3rd Nepal Investment Summit scheduled for April 28th-29th in Kathmandu, Sushil Bhatta, CEO of the Investment Board Nepal, held intensive interactions with potential investors and entrepreneurs from India, a friendly nation.

The program featured video messages from the Prime Minister and the Finance Minister addressed to potential investors, along with promotional materials about the investment summit.

Dr. Shankar Prasad Sharma, Nepal's Ambassador to India, highlighted India as the largest source of foreign direct investment in Nepal and emphasized the abundance of profitable investment opportunities for Indian investors in Nepal. He mentioned that all sectors, including hydropower, ICT, tourism, agricultural development, and manufacturing, are open for investment. He further stated that the Investment Summit is a platform for the Nepal government to showcase its efforts to improve the business environment and make Nepal a more competitive investment destination. He also emphasized the government's commitment to simplifying the investment process and removing hurdles based on suggestions from investors.

Sushil Bhatta, CEO of the Investment Board, discussed various Indian investment projects in Nepal and assured of effective facilitation from the Nepal government and the Investment Board. He explained that Project Development Agreements (PDAs) for Public-Private Partnership (PPP) projects clearly define the responsibilities of the government and the developer, streamlining project implementation and operation.

He highlighted the positive returns Indian companies are enjoying in Nepal and welcomed proposals for reinvestment, while also encouraging other investors to consider reinvesting. He expressed his delight at the information that a large number of entrepreneurs and businesses from India are expected to participate in the Investment Summit.

Speaking on the occasion, Ranjit Rae, former Indian Ambassador to Nepal, commended Nepal's efforts to reform investment-related laws, stating that legal reforms provide predictability and transparency for investors. He suggested updating intellectual property laws to keep pace with the times.

Another former Ambassador, Manjeev Singh Puri, discussed the significant Indian investments in Nepal, ranging from small and medium-sized enterprises to the energy sector. He stressed the need for the government to prioritize promoting the private sector for Nepal's rapid economic development.

The program, held in collaboration with the PHD Chamber of Commerce and Industry of India, was attended by a distinguished gathering, including:

H.E. Messrs. Ranjit Rae and Manjeev Singh Puri, former Indian Ambassadors to Nepal
Anil Khetan, Chairman and Managing Director, Sunil Healthcare Ltd.
Ajay Poddar, Managing Director, Synergy Electronics
Vaibhav Agrawal, CEO, Vedanta Limited
Vishal Thapa, Senior Director, CLASP India
Dushyant Thakur, Deputy Executive Director, World Association of Investment Promotion Agencies (WAIPA)
Mohit Bhasin, National Lead, KPMG
Satya Narayan R., Darshan Saxena, and Sujata Ksheersagar from CL Educate Ltd.
Kamlesh Jain, Managing Director, Varun Beverages
Anukul Bhatnagar, Former Managing Director, Nepal SBI Bank
Mohit Aneja, Managing Director, SBI Capital Markets
Deepak Singhal, Executive Director, NHPC
Kavem Samandari, Executive Chairman, L'Opera
Jitendra Agrawal, Managing Director, Agco Equipment International
Vivek Seghal, Senior Vice President, Apeejay Stya & SBR Group
Sanjeev Preet, Managing Director, Hindustan Tech
Sakshi Agrawal, Managing Director, The SAGA Group
Jayesh Chakraborty, Secretary General, Federation of Indian Hotels & Restaurants Association (FHRAI)
Ved Sharma, Nepal Chapter Convener, Federation of Indian Industry (FII)
Apurva Anand, Senior Technical Officer, Stone Roads International Pvt. Ltd.

The program was also graced by the presence of Taranath Adhikari, Economic Minister at the Embassy of Nepal, New Delhi, along with other high-level officials from the Embassy, the Investment Board Nepal, and consultants.