At Investment Summit, CNI President highlights Nepal's favourable investment climate

KATHMANDU: Confederation of Nepalese Industries (CNI) President Rajesh Kumar Agrawal has stated that a favourable environment is emerging in Nepal for investors, and the government is progressing with the private sector's confidence.

Speaking at the inaugural session of the Nepal Investment Summit 2024 today, CNI President Agrawal encouraged foreign investors to invest in Nepal, stating that the country offers ample possibilities.

He said that the Summit marks a pivotal moment in our nation's journey towards prosperity and growth. "Nepal, with its abundant natural resources, cultural diversity, and strategic location, presents a wealth of opportunities for investors seeking to make a positive impact while achieving sustainable returns." 

He stated that from tourism to technology, infrastructure development to renewable energy, education to healthcare, Nepal offers a fertile ground for innovation, entrepreneurship, and inclusive growth. He extended a warm welcome to investors from around the world, inviting them to explore the myriad investment prospects that Nepal has to offer. 

The CNI President called on investors to seize this moment to capitalise on the momentum generated by this summit and translate it into tangible investments that drive job creation, infrastructure development, and socio-economic progress. He urged them to explore the diverse array of opportunities that Nepal offers across various sectors.  

"Nepal's unparalleled natural beauty, including the majestic Himalayan range and diverse cultural heritage, makes it a prime destination for adventure seekers, nature enthusiasts, and cultural tourists. With a strategic focus on sustainable tourism practices, there is significant room for investment in eco-friendly accommodations, adventure tourism services, and infrastructure development. As the country continues to invest in improving connectivity and promoting its unique attractions, the tourism industry is poised for substantial growth, providing lucrative opportunities for investors seeking to capitalise on Nepal's burgeoning tourism market.

"Nepal, in the realm of IT, has been making strides to position itself as an emerging IT hub in the South Asian region. Nepal's exports of IT services experienced an extraordinary surge, reaching a remarkable figure of $515.4 million in the year 2022. This significant achievement catapulted IT services to the forefront, emerging as the country's top exportable product. It has opened doors to new opportunities, fuelled by a rich pool of talent and a conducive business environment."

He said hydropower represents a crucial sector for investment in Nepal, given its abundant water resources and the potential to generate clean energy. Investments in the development of hydropower infrastructure not only contribute to Nepal's energy security but also offer export opportunities to neighbouring countries. 

Likewise, Nepal holds untapped potential for investors across diverse sectors, including education, healthcare, tea, real estate, and textiles. In the education sector, there is a unique opportunity to establish Nepal as an education hub, leveraging its cultural richness and serene environment. Investing in world-class educational institutions, research facilities, and vocational training centres can attract both domestic and international students. By developing a robust educational ecosystem, investors can contribute to shaping Nepal as a knowledge destination, fostering intellectual growth and socio-economic development.

CNI President Agrawal highlighted that healthcare presents a significant investment opportunity, with the potential to establish Nepal as a medical hub. Investing in state-of-the-art medical facilities, specialised treatment centres, and research institutions can cater not only to the local population but also attract medical tourists from neighbouring countries, he added. 

The country's serene environment can provide a conducive setting for recovery and wellness, making it an attractive destination for medical tourism. 

"I am pleased to share with you all that the government has responded to the requests of private sectors such as CNI by amending various laws and regulations. It gives me great satisfaction to recognise and commend the proactive measures taken by the government through recent amendments to a multitude of laws and regulations. These actions underscore the government's unwavering commitment to nurturing a conducive investment climate within the country. The amendments, enacted through ordinances, signify a forward-looking approach aimed at streamlining processes and enhancing the ease of doing business."

By RSS