The 58th meeting of the Investment Board of Nepal, held today, gave the nod to a roster of projects set to seek letters of intent, undergo showcasing, and conduct market sounding at the imminent third Nepal Investment Summit.
A total of 148 projects, spanning both governmental and private initiatives, are slated for display during the summit, underscoring the diverse investment opportunities in Nepal.
During the meeting, two projects received a boost in investment. The Huaxin Narayani Cement Project secured an additional investment of Rs. 6.634 billion, while Dabur Nepal proposed reinvestment worth Rs. 9.68 billion for capacity expansion and product diversification. The negotiation process for Dabur Nepal’s proposal advanced following the receipt and assessment of the detailed project report.
Prime Minister Pushpa Kamal Dahal ‘Prachanda’, post-meeting, emphasized steering the investment summit towards tangible outcomes beyond mere formalities. He instructed authorities to establish a dedicated unit facilitating capital mobilization from domestic, foreign, and private sectors, highlighting the pivotal role of public-private partnerships in driving the nation’s prosperity. Additionally, the Prime Minister underscored the government’s commitment to amending laws to eliminate investment hurdles.
Sushil Bhatta, CEO of the Investment Board, provided insights into the progress of previous board decisions’ implementation and the preparedness for the upcoming investment summit.
Scheduled for April 28 and 29 in Kathmandu, the investment summit aims to catalyze investment inflows and foster collaboration between various stakeholders for Nepal’s economic growth and development.
