Nepal gears up for third international investment conference: Minister Mahat highlights opportunities

Nepal gears up for third international investment conference: Minister Mahat highlights opportunities

KATHMANDU: Nepal’s Finance Minister, Dr. Prakash Sharan Mahat, has underscored the country’s attractiveness for investors, citing high demand and burgeoning opportunities across key sectors. Responding to queries about the appeal of investing in Nepal, Minister Mahat announced the upcoming third international investment conference scheduled for April 21 and 22 in Kathmandu.

Minister Mahat emphasized Nepal’s potential as an excellent investment destination, particularly in sectors such as hydropower, tourism, information technology, and agriculture. He encouraged investors to assess the investment environment and consider opportunities, even in small and medium enterprises.

The Finance Ministry, following extensive discussions with development partners, is orchestrating the conference with the goal of making it effective and outcome-oriented.

The discussions aim to improve the investment climate by addressing issues seen in the sector. Minister Mahat highlighted ongoing efforts by the government to eliminate obstacles and challenges across all sectors.

In preparation for the conference, Chief Secretary Dr. Baikuntha Aryal provided insights into policy and procedural enhancements aligned with commitments made by investors.

The government has expedited internal preparations for the event, with the main agenda encompassing discussions on essential policy improvements to foster an investment-friendly environment.

A pivotal aspect of the conference will be the enactment of laws related to asset cleansing, expected to pass through Parliament. Minister Mahat expressed optimism that these legislative advancements could contribute to elevating Nepal’s Country Rating, providing a more favorable outlook for potential investors.

As part of the organizational structure, Minister Mahat proposed the creation of a comprehensive proposal for submission to the Investment Conference. He highlighted the need for coordination with stakeholders and emphasized the importance of self-assessment based on the experiences of development partners to set clear goals and objectives.

The conference’s organizing committee, led by Minister Mahat, the coordination committee headed by Chief Secretary Dr. Baikuntha Aryal, and the technical committee led by the Secretary of the Ministry of Industry, Commerce, and Supplies are actively coordinating efforts.

While the coordination committee convened its first meeting on March 10, the technical committee’s meeting is yet to be scheduled.

Nepal anticipates hosting an impactful international-level investment conference, showcasing the country’s potential and commitment to fostering a conducive environment for global investments.

Fiscal Nepal |
Monday December 11, 2023, 05:59:08 PM |

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