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Third Investment Summit: Government to showcase 150 lucrative projects

Third Investment Summit: Government to showcase 150 lucrative projects

At the Third Nepal Investment Summit slated for April 28-29 in Kathmandu, Nepal plans to showcase around 150 projects—more than three dozen projects from the private sector and 120 projects from the government side—before international investors. 

According to the Office of the Investment Board of Nepal (IBN), those projects are mainly from hydropower, transport, tourism, expressway and agriculture sectors.

Winning trust
Meanwhile,  Prime Minister Pushpa Kamal Dahal stressed the need to take the private sector into confidence and spread a message that Nepal has an investment-friendly environment. Addressing an event at IBN, he said the stress should be on facilitating the private sector rather than controlling it for development and prosperity. 

“A new model for development should be charted by taking the private sector into confidence,” he said: There will be no development without taking the private sector into confidence. 

Public aspirations and expectations can be fulfilled by adopting a policy that encourages development, PM Dahal said, instructing IBN officials to work toward that end. 

Focus on feasible projects

With regard to the upcoming investment summit, he called on all parties involved to work with a positive mindset to make the summit a success.

PM Dahal underlined the need to push forth workable projects at the summit, which is round the bend, rather than merely presenting a ‘wish-list’. He expressed confidence that some Acts amended before the summit will help bring in foreign investment. “Let’s organize the summit and deliver a new message,” he urged, pointing out the need to simplify procedures and other works related to development projects. 

The PM insisted that the political leadership should be able to deal with difficulties that arise while delivering some good works. Stating that priority should be accorded to the steel industry, he underscored that work should be done for the establishment of such industries. He instructed IBN to prioritize irrigation projects for generation of jobs in the agriculture sector and accelerate stalled development projects.