Kathmandu: Nepal Investment Summit aims to convey the message of making Nepal an excellent destination for investment globally, as stated by the Finance Minister during the third Investment Summit Steering Committee meeting held on Monday. The meeting, chaired by Finance Minister Dr. Prakash Sharan Mahat, focused on reviewing the policies, laws, and structural improvements related to the investment summit, along with discussions on various projects.
Addressing the meeting, Finance Minister Dr. Mahat informed about the positive response received for investment in Nepal from international investors. He emphasized the government’s commitment to preparing and directing projects with seriousness to attract not only foreign investors but also Nepali and non-resident Nepalis. The Finance Minister stated, “For us, investment attraction is an unprecedented opportunity. The government will leave no stone unturned in legal and policy reforms to attract and facilitate investment in Nepal, making it the ultimate goal of the investment summit globally.”
Dr. Mahat also mentioned the preparation for hosting the International Development Association (IDA) conference in Nepal, scheduled for next month, where representatives from more than 92 countries, including the President of the World Bank, will participate.
The Finance Minister highlighted the significance of the upcoming summit, stating that it would be the largest international conference held in Nepal. The meeting covered a range of topics, including the presentation of reports on legal and policy reforms related to investment by the Policy, Law, and Structural Improvement Task Force, which will be presented to the Parliament for approval after obtaining Cabinet consent.
The meeting also discussed proposed amendments to various laws related to industry, business, and investment, aiming to remove legal and policy barriers and enhance efficiency in project implementation. The proposed amendments include Industrial Enterprise Act (2076), Foreign Investment and Technology Transfer Act (2075), Special Economic Zone Act (2073), Forest Act (2076), National Parks and Wildlife Conservation Act (2029), Land-related Acts (2021 and 2034), Environment Protection Act (2076), Electronic Transaction Act (2063), Civil Aviation Authority of Nepal Act (2053), Foreign Investment and Technology Transfer Regulation (2077), and Forest Regulation (2079).
Additionally, the meeting focused on the categorization of projects and the preparation of an initial list based on the various phases of project study by the Technical Committee on Projects. The Finance Minister presented detailed information on the overall preparation for the Investment Summit, with the presence of the coordinator of the Investment Summit Secretariat and the Chief Executive Officer of the Investment Board Nepal.
