January 28: The Investment Board Nepal organized a workshop in collaboration with Indian companies as a preparation for the upcoming Third Investment Summit.
The board organized the event in collaboration with KPMG India on Friday as a preparation for the Third Investment Summit to be held in Kathmandu on April 28 and 29.
During the workshop, discussions were held on the issues of legal, procedural and regulatory reforms, as well as innovation-based initiatives to improve the investment environment in Nepal. The participants of the workshop emphasized on the improvement of the investment environment to promote investment from domestic and foreign private sectors in Nepal.
Addressing the workshop, Finance Minister Dr Prakash Sharan Mahat, said that the country’s potential is largely untapped and underutilized.
"For this reason, more investment is necessary for Nepal," he said.
Finance Minister Mahat added that the investments made in Nepal's tourism, agricultural business and information technology sectors will give good returns.
Vice Chairperson of the National Planning Commission, Dr Min Bahadur Shrestha highlighted that the private sector investments are crucial for the sustainable and inclusive growth trajectory for the graduation of Nepal into a developing country by 2026.
Chief Secretary Dr Baikuntha Aryal said that addressing and facilitating the interest of investors investing in Nepal will send a positive message to other potential investors in the world.
Sushil Bhatt, Chief Executive Officer of the Board, said that the third investment summit will provide significant opportunities to the potential investors.
"By revising the investment law, necessary homework is being done to attract investment in the strategic infrastructure of connectivity and tourism, information technology and manufacturing industry," he said.
Acting Governor of Nepal Rastra Bank Dr. Neelam Dhungana Timsina informed about the amendment of the Foreign Investment and Foreign Loan Regulations, which does not require the pre-approval of Nepal Rastra Bank to finance foreign investment and the facilitation regarding repatriation of profits.
Chief Executive Officer of KPMG in India Yezdi Nagporewalla said that the upcoming investment conference will attract investors who are looking for investment opportunities in Nepal.