Nepal Prime Minister holds consultation meeting ahead of third Nepal Investment Summit 2024

KATHMANDU: Prime Minister, Pushpa Kamal Dahal, spearheaded a crucial consultation meeting today, discussing the imminent Third Nepal Investment Summit 2024. Set to take place on April 28-29 in Kathmandu, the summit aims to bolster foreign investment in Nepal’s burgeoning economy.

In attendance were heads of diplomatic missions, development partners, and UN agencies stationed in Nepal. Prime Minister Prachanda unveiled the government’s proactive measures, signaling the initiation of legal amendments to facilitate investments. He emphasized ongoing procedural reforms and the preparedness of projects slated for presentation at the summit.

Addressing the assembled diplomats and partners, the Prime Minister implored for their indispensable support in ensuring robust participation from potential foreign investors. He stressed the summit’s significance as a platform for project showcasing, market exploration, and solicitation of investments, urging stakeholders to disseminate a positive narrative.

Asserting Nepal’s commitment to safeguarding investments, Prime Minister Prachanda assured swift resolution of investor concerns and comprehensive support throughout the business lifecycle. He underscored the pivotal role of the Investment Board Nepal and the Department of Industry in streamlining foreign investments.

Chief Secretary Dr. Baikuntha Aryal provided insights into the government’s endorsement of the Bilateral Investment Agreement (BIA) framework and promised to furnish project details to diplomatic missions and partners promptly.

Mr. Sushil Bhatta, CEO of Investment Board Nepal, outlined the summit’s objectives, emphasizing networking opportunities, investment exploration, and partnership forging. He called for bilateral and multilateral support in structuring Public-Private Partnership (PPP) projects and enhancing institutional capacities.

During the meeting, ambassadors and development partners voiced inquiries regarding proposed legal amendments, project specifics, and the Bilateral Investment Agreement. However, they commended the government’s proactive stance in fostering an investor-friendly environment and pledged their collaborative efforts for the summit’s success.

Notable dignitaries including the Deputy Prime Minister and Minister for Foreign Affairs, Minister for Finance, Minister for Energy, Water Resources and Irrigation, alongside senior government officials, graced the consultation meeting, underscoring the high-level commitment to catalyzing Nepal’s economic growth through foreign investment.