PM Prachanda Advocates Innovation and Investment at Nepal-EU Business Forum ➤

PM Prachanda Advocates Innovation and Investment at Nepal-EU Business Forum

Nepal Seeks Collaboration with EU for Economic Growth and Sustainable Development

Prime Minister Pushpa Kamal Dahal ‘Prachanda’ addressed the Nepal-EU Business Forum on the momentous occasion of the 50th anniversary of Nepal-EU diplomatic relations, emphasizing the government’s commitment to fostering innovation, entrepreneurship, and facilitating investment processes.

Speaking at the inauguration of the forum in Kathmandu, Prime Minister Dahal reiterated the government’s dedication to promoting a culture of innovation and entrepreneurship while streamlining investment procedures to attract both domestic and international investors. He highlighted Nepal’s policy framework aimed at creating a robust economic structure and fostering international partnerships to drive economic expansion.

The Prime Minister noted the significant participation of over 50 countries in the recent investment summit held in Nepal, signaling a growing interest from the international community to invest in the country’s promising opportunities.

Emphasizing Nepal’s readiness for enhanced collaboration with EU-member countries, Prime Minister Dahal underscored the importance of foreign investment in achieving Nepal’s developmental goals, including graduating from the least developed country status by 2026 and fulfilling the Sustainable Development Goals by 2030. He stressed the necessity of adequate investment and technology transfer from foreign partners to accomplish these objectives.

In line with Nepal’s goal of attracting foreign direct investment, the government has introduced the ‘automated route’ for investments up to Rs 500 million, aiming to enhance managerial capacity and capital inflow into the country. Prime Minister Dahal expressed confidence that this initiative would attract both financial resources and technical expertise to Nepal.

Highlighting Nepal’s commitment to environmental sustainability and green economy practices, Prime Minister Dahal emphasized ongoing efforts to promote renewable energy projects, sustainable agriculture, and environmental conservation. He reaffirmed Nepal’s dedication to the Paris Agreement and integrating climate actions into national development plans and programs.

Despite resource and capacity challenges, as well as the impacts of climate change, Prime Minister Dahal reiterated Nepal’s commitment to achieving zero carbon emissions by 2045, aligning with global efforts to combat climate change and ensure a sustainable future for generations to come.