January 11: Finance Minister Dr Prakash Sharan Mahat has urged investors from India and other countries to attend the investment summit to be held in Nepal on April 28 and 29. Minister Mahat has also urged them to invest in energy, tourism and agriculture sectors of Nepal. 

Addressing the heads of state, ministers and investors of various countries during the Vibrant Gujarat Global Summit-2024 held in Gujarat, India, Minister Mahat invited them to the conference, according to the Personal Secretariat of the Finance Minister.

Addressing the conference, Minister Mahat said, "Investment conference is being held in Nepal on April 28 and 29. I invite investors from other countries along with India through this program. I hope that your innovative business ideas and investment decisions will be a new milestone for the development of Nepal."

The Minister of Finance stated that there are great opportunities for investment in energy, tourism, agribusiness and information technology in Nepal and informed that there are other potential areas of investment such as health, education, manufacturing, construction and transportation, mining, banking and financial services. He added that this global forum for professional networking, knowledge sharing and strategic partnerships to promote sustainable and inclusive growth is now a forum for all.

Appreciating the Vibrant Gujarat concept envisioned by Indian Prime Minister Narendra Modi in 2003, he said, "The Vibrant Gujarat development model being followed nationwide has been a source of inspiration for many countries including Nepal to manage financial resources and technical knowledge to address the economic, social and environmental challenges of this time."

Minisher Mahat said, "I have a fresh memory of what Mr Modi said in the Parliament of Nepal in 2014. He especially emphasized on HIT, that is highway, information and transmission line. I am pleased to say that we are working together to improve connectivity in all these areas, strengthening market linkages and reducing transaction costs. Recently, a long-term power purchase agreement has been signed between Nepal and India to export 10,000 megawatts of electricity to India over a period of 10 years. This will open a great opportunity for investment in hydropower in Nepal. This will help to achieve the green energy transition target not only in Nepal but also in India."

Minister Mahat informed that Nepal, situated between two global economic powers, has adopted a liberal, market-oriented economic policy since the early 90s and is a member of many international organizations and multilateral agencies. He added, "We are implementing trade and investment policies and regulations according to international standards.”