Govt meets development partners in preparation for investment summit

KATHMANDU: The government convened a meeting with development partners as part of its preparation for the forthcoming 3rd Investment Summit scheduled to be held in Kathmandu on April 21-22.

Speaking at a meeting organized at the Ministry of Finance on Monday, Minister for Finance Dr Prakash Sharan Mahat said the main objective of the meeting was to collect suggestions for ensuring the effectiveness of the summit. Minister Mahat highlighted the government’s proactive approach in seeking input from investors regarding the investment climate in Nepal, emphasizing the nation’s appeal as an investment-friendly destination due to a higher demand than supply. “We are seeking inputs from investors regarding the investment atmosphere in Nepal and areas that need improvements,” Mahat said, arguing that Nepal has a conducive environment for investment.

“Nepal presents a favorable ground for investment in small and medium enterprises as well,”  Mahat said, adding that the government is seriously working to address challenges in the investment sector. “The parliament is likely to endorse crucial Bills, including the Asset (Money) Laundering Prevention (Amendment) Bill. The country may also achieve Sovereign Credit Rating before the Summit.”

Mahat highlighted hydropower, tourism, information technology, and agriculture as well as SMEs as potential sectors for investment.

Also speaking on the occasion, Chief Secretary Dr. Baikuntha Aryal reiterated the government’s commitment to policy-level and procedural improvements to facilitate investment.

The government has formed Three committees, led by the finance minister, the chief secretary, and the secretary of the Ministry of Industry, Commerce, and Supplies, to make needful preparations for the summit. While the director and implementation committees have already held meetings, the technical committee is yet to convene.