Nepal wants to showcase it as an emerging destination for global investors through Investment Summit next month

State Minister for Power, Energy and Mineral Resources Nasrul Hamid has emphasized the substantial investment potential in Nepal and expressed Bangladesh's desire to further strengthen investment linkages with Nepal.

He stressed the opportunities for energy cooperation while highlighting Nepal's huge hydropower potential and Bangladesh's growing energy demands.

The State Minister was addressing at a seminar titled "Pre-event Seminar on the 3rd Nepal Investment Summit -2024" as the chief guest at Nepal Embassy in Dhaka.

The process of importing 40MW of electricity from Nepal using India's transmission facility is nearly finalised.

The State Minister said Bangladesh will invest in the hydro project in Nepal, which will have the opportunity to sell electricity to both India and Nepal.

Nasrul Hamid also emphasised establishing a transmission line between Bangladesh and Nepal, which will require a tri-national agreement, including India.

Nepalese Ambassador to Bangladesh Ghanshyam Bhandari highlighted the strategic advantages of investing in Nepal and urged Bangladeshi investors to explore investment opportunities in key sectors such as hydropower, infrastructure, hotel and hospitality, pharmaceuticals, and information and communication technology, among others.

Nepal invited global investors, including investors from Bangladesh in joint venture, as the Himalayan country is eyeing towards growth and shared prosperity.

"We stand ready to facilitate Bangladeshi investors. Investment is playing an important role in strengthening economic ties between Bangladesh and Nepal," said the Nepalese Ambassador.

In recent years, the envoy said the investment climate in Nepal has become more liberal and business-friendly.

"In this regard, strengthening economic relations with Bangladesh is on Nepal's priority list," he added.

The two countries have come a long way on the path of environmentally-friendly hydropower trade, said the envoy.

CEO of Investment Board Nepal (IBN) Sushil Bhatta spoke as special guest and urged the investors to explore the opportunities that Nepal offers.

Sushil Bhatta shed light on the ongoing preparations for the Investment Summit.

The Summit will bring together potential global investors, policymakers, experts, and development finance institutions to help them explore investment opportunities in Nepal and to help them build partnership with the local business leaders, he said.

Joint Secretary of Investment Board Nepal Babu Raj Adhikari made a presentation providing comprehensive updates on the upcoming Summit.

Video messages from the Prime Minister of Nepal Pushpa Kamal Dahal 'Prachanda,' and the Finance Minister Barsha Man Pun were presented during the event, extending an invitation to potential investors to participate in the Summit.

The Seminar was held with an objective to provide insights into and shed light on the expectations from the Investment Summit scheduled to be held in Kathmandu on 28-29 April 2024.

The seminar was attended by participants, including members of the parliament of Bangladesh, high-ranking government officials, think tanks, eminent business leaders, and media persons, among others.

Nepal is located between two economic powers India and China and is an emerging destination for the global investors, said the organisers of the Nepal Investment Summit 2024 which stands as a testament to the government's unwavering commitment to transforming Nepal into a premier global investment destination.

With a keen focus on developing the private sector and attracting Foreign Direct Investment (FDI), the Summit brings investors, policy makers, experts, and Development Finance Institutions together.

In a determined effort to fortify Nepal's standing as a highly promising investment destination, the government of Nepal (GoN) is organizing the Third Nepal Investment Summit (NIS) 2024, scheduled for April 28-29, 2024, in Kathmandu.

This Summit will convene national and international speakers, dignitaries, sector-specific experts, and, notably, high-level representatives from the government, private sector, and development partners.

The GoN is collaborating closely with development partners, DFIs, and the private sector to organize the Summit.

In alignment with Nepal's periodic plan and the government's policies and programmes, the GoN has attached high priority to the private sector investment, including foreign direct investment (FDI).

Relevant laws have been amended/ enacted to foster an investment-friendly environment, accompanied by streamlined procedures aimed at bolstering ease of doing business.

To bridge resources and technology gaps for the country's economic development, the government is resolute in augmenting foreign investment commitments and inflows.

Leave a Comment

Recent Posts