KATHMANDU: Various parties at the Nepal Investment Summit 2019 shared their ideas and opinions in connection to investment in different sectors of Nepal. Minister for Finance Yubaraj Khatiwada said, with the procedural and institutional reforms in the sector, Nepal has become an appropriate place for investment. He also pointed out that Nepal now has a politically favourable environment with the formation of government at all three levels. 'Affordable tax rates have been fixed and laws have been made targeting investors. There is a possibility for investors to have a big market in Nepal which lies between two big nations - China and India. I want to urge all investors to invest and get high returns on their investment,' said the minister.         Vice President of the Asian Development Bank, Shixin Chen, said investments had already been made in energy, drinking water, town infrastructure and education of Nepal, and strategies have been formed for more investments. He referred to the Bank's investment in the Melamchi Drinking Water Project and Gautam Buddha International Airport. 'Plans have been made to make long-term investments in Nepal,' he added.         Hartwig Schafer, Vice President of the World Bank for South Asia region expressed his readiness to invest in Nepal to push the goal of 'Prosperous Nepal, Happy Nepalis', stating that the environment in Nepal has been investment-friendly in recent days with some changes in the legal provisions in this regard. He also expressed his willingness to cooperate with the private sector of Nepal.           Union Minister for Investment and Foreign Economic Relations of Myanmar, U Thaung Tun suggested that Nepal should focus on agriculture to boost its economy while referring to progress it has achieved in poverty alleviation, trade increment and attracting foreign investment.           Chairperson of the Muthoot Group, M G George Muthoot stated that a favourable environment has been created in Nepal for investment with the formation of a stable government. He said the government has been working to become economically strong, noting its commitment to bring in foreign investments.           Central Committee Member of the Nepali Congress and former finance minister Ram Sharan Mahat said that the private sector, in recent times, has achieved much in telecommunication and energy sectors. He said the private sector in Nepal was encouraged for investment after 1990. The former finance minister noted that Nepal faced problems like political instability and natural disasters including earthquakes in the last two decades, adding that Nepal has now entered a new phase after surviving all these problems. He further said Nepal has been continuously achieving success in human development index, saying only 15 per cent population is now under the poverty line in the country. Saying it was high time for economic development, former minister Mahat was of the opinion that foreign investment was necessary for the same.

Discussions would be held on investment opportunity in Nepal, today itself, during the summit. As per the schedule prepared by the Investment Board Nepal (IBN), discussions would also be held on 'energy and information technology' and on the development of women and youth entrepreneurship, this afternoon. Various projects on agriculture, hydropower, industry, tourism, transport, urban infrastructure, education and health sectors are being presented at the summit that runs till Saturday. The projects are worth between Rs 640 million to 350 billion. Nepal government ministers, chief ministers of all the seven provinces, non-resident Nepalis, and private sector representatives are also taking part in the summit. The government of Nepal has called on all the investors attending the ongoing summit to invest in Nepal.