Government to showcase 125 national projects at Nepal Investment Summit 2024

KATHMANDU: In a bid to attract significant investments and bolster economic growth, the Nepalese government is gearing up to unveil 125 national-level projects at the forthcoming Nepal Investment Summit 2024. Scheduled for April 28 under the theme ‘Emerging Nepal’, the two-day summit promises to serve as a platform for fostering investment opportunities across various sectors.

The Investment Board of Nepal (IBN) revealed that invitations have been dispatched to 1,100 potential investors, with over 100 projects identified as feasible for presentation at the summit. Prime Minister Pushpa Kamal Dahal emphasized the government’s commitment to providing a secure and conducive environment for investment, citing the diverse sectors ripe for investment including clean energy, tourism, agro-processing, ICT, transportation, and manufacturing.

Among the showcased projects, the government aims to seal project development agreements for three key initiatives during the summit. These include the Nepal-China Friendly Industrial Park in Jhapa, the Upper Marsyangdi-2 Hydropower Project, and grid-connected solar projects in Banke and Kapilvastu districts. Additionally, an agreement is expected with Dabur Nepal for the expansion of its production capacity.

The estimated costs for these projects are substantial, with the Nepal-China Friendly Industrial Park requiring $786 million, the Upper Marsyangdi-2 Hydropower Project seeking Chinese investment worth $647 million, and grid-connected solar projects inviting investment worth $185.5 million. Furthermore, Dabur Nepal is anticipated to inject Rs 9.68 billion into expanding its operations.

Pradyumna Prasad Upadhyay, IBN spokesperson, disclosed plans to seek expressions of interest for 20 other projects and showcase 33 projects in preliminary stages. Additionally, 20 projects at the stage of financial closure will be promoted under private sector investments during the summit.

Despite the government’s efforts to promote the summit through pre-events in foreign countries, challenges persist. Notably, delays in amending necessary laws have drawn criticism, raising concerns about the actualization of outcomes from previous summits.

As anticipation builds for the Nepal Investment Summit 2024, stakeholders eagerly await the unveiling of transformative projects aimed at propelling Nepal towards economic prosperity and development.