KATHMANDU, APRIL 28
Finance Minister Barshaman Pun has asserted that Nepal is an attractive destination for international investment.
Addressing the inaugural session of the Third Investment Summit here today, he highlighted the key objectives of the Summit.
According to the Finance Minister, the key objectives of the Summit are: To project Nepal as an emerging destination for private sector investment; to highlight recent reforms in enhancing the investment climate and ensuring regulatory frameworks that support foreign as well as domestic investment, to showcase a wide range of projects across different sectors, including investment-ready projects; to facilitate productive negotiations and come up with a number of agreements and Memoranda of Understanding (MOUs) between investors and stakeholders, advancing project development and management objectives; and to provide a platform for networking opportunities among the policymakers, investors, experts and other stakeholders to share ideas and views as well as encourage joint ventures in areas such as industry and infrastructure development.
The Finance Minister said there are multitudes of investment opportunities ahead, which will be further enhanced through this summit.
"Nepal has been able to achieve significant progress in recent years. Our macroeconomic indicators remain sound and stable. Nepal's economic landscape is evolving, complemented by a federal system of governance providing ample opportunities to foster growth and innovation," he said, adding that over the years, Nepal has witnessed significant achievements in the areas of clean energy, tourism, IT, agriculture, and agro-based industries as the drivers of its economic progress and prosperity.
Noting that as Nepal embarks on the journey of economic transformation, it is imperative to acknowledge that our existing technology and domestic markets alone are insufficient to sustain the high growth trajectory we hope to achieve, Finance Minister Pun observed that foreign investors in Nepal have made commendable achievements.
"Therefore, Nepal warmly welcomes foreign investment as a catalyst for industrial development, infrastructure development, job creation, export promotion, and knowledge, skill and technology transfer. The government is committed to collaborating with the private sector through private direct investment and various other models of public-private partnership. We are grateful to the development partners for their continuous support in creating an enabling environment for investment," he reiterated.
Stating that various policy reforms have been initiated with a view to improving the doing business environment and boosting investors' confidence, the Finance Minister said that these reforms include improving regulatory processes, reducing the time and cost of business, and ensuring transparency and accountability in public sector governance.
"Reform is an ongoing process; it will be continued in the days to come. Ladies and gentlemen, I am confident that this summit will serve as an important milestone for unleashing Nepal's tremendous investment potential and charting a path towards sustainable economic growth. Let us grab the opportunity to forge new partnerships, drive innovation, and create a brighter future for all," he added.
