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58th meet of IBN endorses list of projects to be showcased at investment summit

B360
B360 April 24, 2024, 10:40 am
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KATHMANDU: The 58th meeting of the Investment Board Nepal (IBN), held on Tuesday approved the list of projects for which letters of intent will be sought, showcased, and market sounding will be carried out during the upcoming Nepal Investment Summit. 

During the summit, a total of 148 projects, including both government and private, will be showcased.

The meeting also decided to increase investment in two projects. An additional investment worth Rs 6.63 billion has been approved for the Huaxin Narayani Cement Project. 

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prime Minister Pushpa Kamal Dahal and other officials attend the 58th meetinig of the Investment Board Nepal in New Baneshwor, Kathmandu, on Tuesday, April 23, 2024. Photo: RSS

Similarly, Dabur Nepal has proposed a reinvestment of Rs 9.68 billion for capacity expansion and product diversification. The detailed project report (DPR) of the project was received and, following assessment, the negotiation process has been taken forward.

Following the meeting, Prime Minister Pushpa Kamal Dahal directed efforts to make the investment summit more result-oriented rather than being limited to formalities. The Prime Minister also instructed the authorities to form a special unit to facilitate the mobilisation of capital and credits from domestic, foreign, and private sectors.

Stating that the prosperity of the country will be achieved only through the partnership between the public and private sectors, Prime Minister Dahal said the government has initiated the work of amending laws to remove obstacles to investment.

IBN Chief Executive Officer Sushil Bhatta shed light on the status of implementation of the decision of the previous board meeting and the preparations for the investment summit. 

The investment summit is scheduled to be held in Kathmandu on April 28 and 29.

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