Nepal Investment Board Endorses Project Showcase Ahead of Third Major Summit

Wed, Apr 24, 2024 12:18 PM on Latest, Economy, National,

The 58th meeting of the Investment Board of Nepal, held yesterday, decided to seek letters of intent for a list of projects to be highlighted and subjected to market analysis at the upcoming third Nepal Investment Summit. A total of 148 projects, both government and private, will be presented during the summit.

The meeting also approved an additional investment of Rs. 6 billion 634 million for the Huaxin Narayani Cement Project and accepted a proposal from Dabur Nepal for reinvestment of Rs 9 billion 680 million aimed at capacity expansion and product diversification, following the assessment of the detailed project report and progression of negotiation talks.

Following the meeting, Prime Minister Pushpa Kamal Dahal 'Prachanda' emphasized the need for the investment summit to produce tangible results rather than just serve ceremonial purposes. He instructed the creation of a special unit to aid in mobilizing capital and credits from domestic, foreign, and private sectors.

The Prime Minister expressed that the country's prosperity hinges on the collaboration between the public and private sectors and mentioned ongoing legislative amendments to eliminate investment barriers. Sushil Bhatta, CEO of the Investment Board, reported on the implementation status of decisions from the previous meeting and preparations for the upcoming summit, which is scheduled to take place in Kathmandu on April 28 and 29.