Investment Summit in Nepal: Finance Minister Calls for Adequate Preparation

Finance Minister, Dr. Prakash Sharan Mahat, emphasized the importance of thorough preparation for the upcoming investment summit scheduled for April 21-22, 2024. During a meeting of the investment summit direction committee at the Finance Ministry on Sunday, Minister Mahat urged the need to distinguish the event from its predecessors by attracting a greater number of investors.

"This time, we are planning to hold bilateral meetings with potential investors before the summit," stated Minister Mahat, highlighting the government's commitment to protecting foreign investment through the implementation of the Bilateral Investment Promotion and Protection Agreement (BIPPA). The government aims to attract national, Non-Resident Nepalis (NRNs), and foreign investors, with preparations already underway. Foreign ambassadors will also be approached to ensure the effectiveness of the event.

Ram Kumar Phuyal, a member of the National Planning Commission, emphasized the necessity of reviewing past investment summits and making necessary corrections. Nepal Rastra Bank Governor Maha Prasad Adhikari stressed the urgency of effective and rapid engagement, considering the limited time available.

Former Chairman of the Investment Board, Radhes Pant, urged that the event be result-oriented. He also recommended the government enforce hedging regulations effectively and ensure an adequate workforce. Expressing concern over the non-implementation of previous investment summits, former Chairman of the Confederation of Nepalese Industries, Hari Bhakta Sharma, called for increased efforts to ensure the success of the upcoming summit.

As Nepal gears up for the investment summit in April, the government and stakeholders are working collaboratively to attract a diverse range of investors and address the shortcomings of previous events, with an emphasis on efficiency and tangible outcomes.