The Third Investment Summit 2024, scheduled to take place in Kathmandu on April 28 and 29, will feature a showcase of 151 projects aimed at attracting foreign direct investment (FDI) into Nepal. The objective of the Summit is to promote economic growth by implementing projects such as establishing factories and industries through FDI in various sectors.
These projects are expected to play a crucial role in the overall development of the country, and the collaboration of external investment with government and private sector investment is deemed essential for securing adequate capital, technology, and human resources for their successful implementation.
The Investment Board, during its 58th meeting, has decided to call for a letter of intent and engage in extensive discussions with investors regarding these projects.
The projects showcased at the Summit span various sectors, with the energy sector leading the pack with 31 projects. Additionally, there are 19 projects related to the transport sector, 13 each in the mining and minerals sector and the tourism sector, and 14 in the agriculture sector. Other sectors represented include production, industrial infrastructure and trade, health and education, communications and information technology, water supply, and urban development.
In addition to the projects presented by the government, the private sector will also showcase 31 projects aimed at attracting foreign direct investment during the summit.
According to Pradyumna Prasad Upadhyay, spokesman for the Investment Board, the government has accorded high priority to private sector investment, including FDI. He emphasised that relevant laws have been amended or enacted to create an investment-friendly environment, with streamlined procedures to enhance the ease of doing business. The government remains committed to bridging resource and technology gaps for the country’s economic development by augmenting foreign investment commitments and inflows.
