Finance Minister Announces Investment Summit in Nepal to Attract Global Corporations
Finance Minister Dr. Prakash Sharan Mahat has announced plans to hold an investment summit in Nepal soon. He made this announcement during the 12th anniversary celebration of the Board of Investment at Singh Durbar on Friday.
Finance Minister Mahat stated that the summit aims to attract corporate investments from the global information technology sector. He emphasized the positive signs of increasing economic growth in Nepal and expressed confidence that it would stimulate economic activities in the country.
Furthermore, Mahat predicted that investments in tourism, agriculture, hydroelectricity, and information technology sectors would rise in Nepal, and foreign investments would also flow into these industries due to a well-functioning market system.
He revealed that there is an agreement to purchase 10,000 megawatts of electricity from India over ten years, and the government plans to proceed with a similar agreement with China soon.
Despite past economic challenges, Finance Minister Mahat conveyed optimism, saying, "Our country has gone through economic problems due to various reasons. But better days are coming. Good signs of this have started to appear. This does not mean that we are problem-free. There are problems. But by eliminating those problems, good opportunities to increase economic growth begin now. And there are signs of that."
He also highlighted the robust foreign exchange reserves and increasing tourist arrivals, which are expected to boost economic activity in Nepal.
Regarding hydropower development, Mahat noted, "There is a rhythm of progress in hydropower. And the agreement with India. Purchase of electricity up to 10,000 megawatts in ten years. It has provided investors with an assured market. We believe that we will have a similar agreement with China in the future. It has the potential of one more market."
Finance Minister Mahat expressed his belief that the Investment Board would take more effective initiatives to attract foreign investment in Nepal.
