IBN to showcase 77 projects worth $31.93 billion
Kathmandu, March 26
The Investment Board Nepal (IBN) has said that it will showcase 77 different projects worth $31.93 billion in various sectors during the Nepal Investment Summit that is scheduled to be held on March 29 and 30 in Kathmandu.
The Directive Committee of the investment summit, which is led by Finance Minister Yubaraj Khatiwada, who is also the vice chairman of IBN, has decided to showcase 50 government-owned projects and 27 other projects from private sector.
A meeting of the committee held on Monday, has calculated the value of the projects by fixing the US dollar exchange rate at Rs 110 per dollar.
Based on that rate the value of the 50 government-owned projects stands at $28.59 billion and that of the 27 private sector-led projects stands at $3.34 billion.
During the summit, the government will showcase 25 projects related to energy and infrastructure, 17 related to tourism and 11 projects related to the transportation sector.
Likewise, it will showcase eight projects related to agriculture, seven related to urban development and six related to industrial sector. Moreover, the government will also present three projects related to the education and health sector.
Balaram Rijyal, spokesperson for IBN, said that the government’s main objective in the summit will be to demonstrate the improved business climate of the country in recent years to potential investors. “The summit will focus on transforming the political and policy stability into trust among the domestic and international business society.”
As per Rijyal, the two-day conference will include discussions and deliberations that will dwell on investment opportunities in the aforementioned sectors. “Along with showcasing the 77 selected projects and the country’s business environment, we will focus on insights and opinions from experts and potential investors to bring in investment for long-term sustainable development,” he added.
Earlier, to make the summit a success the government had changed and amended various laws and policies related to foreign direct investment. “The government has introduced business policies and laws that are more contextual and we plan to highlight those to the international business community through the event,” Rijyal said.
The two-day event aims to bring in foreign investment in big projects thus creating a base for making the country prosperous to realise the government’s goal of ‘Prosperous Nepal, Happy Nepali’. As per IBN, over 600 participants from 40 countries will be taking part in summit.
