3rd Nepal Investment Summit begins today

Kathmandu, Apr. 28: In an effort to strengthen Nepal’s standing as highly promising investment destination, the government of Nepal is organising the 3rd Nepal Investment Summit (NIS) 2024 on April 28-29, in Kathmandu.

Prime Minister Pushpa Kamal Dahal ‘Prachanda’ is scheduled to inaugurate the Summit where the Former Prime Minister Sher Bahadur Deuba, Chairman of CIDCA Luo Zhaohui, Minister for Commerce and Industry, government of India Piyush Goyal, Minister for State FCDO (Indo-Pacific) Anne-Marie Trevelyan and Minister of State, FCDO (Development and Africa) Andrew Mitchell, among others, will address the inaugural session.

The government is collaborating closely with development partners, DFIs and the private sector to organise the Summit.

This Summit will convene distinguished national and international speakers, dignitaries, sector-specific experts, and notable, high-level representatives from the government, private sector and development partners, said Sushil Bhatta, Chief Executive Officer of Investment Board, Nepal (IBN).

In alignment with Nepal’s periodic plan and government’s policies and programmes, the government has attached high priority to the private sector investment, including foreign direct investment (FDI). 

“Relevant laws have been amended/enacted to foster and investment-friendly climate, accompanied by streamlined procedures aimed at bolstering ease of doing business. To bridge resources and technology gaps for the country’s economic development, the government is resolute in augmenting foreign investment commitments and inflows,” said Bhatta. 

The Summit is to connect with key decision-makers, meet high-level government officials, influential business executives and representatives of global finance institutions. The Summit will help discover diverse investment opportunities, explore attractive projects in hydropower, tourism, ICT, agriculture, manufacturing, and urban development projects, he said.

As the Summit is a platform of promotion of investment, boost relationship with investors, he said the aim of the Summit is to make sure the potential foreign investors as Nepal is sustainable, appropriate and attractive destination for investment.

The Summit has the objective of promoting Nepal as attractive investment destination, sharing policy reforms undertaken by the government, showcasing potential projects to the investors towards its realization, providing a platform for interaction and networking and facilitating engagement among potential investors, developers, national and global business leaders, policy makers, and other stakeholders to realize Nepal’s investment opportunities, said IBN.

Two special sessions along with the inaugural session would be held on the first day. The two plenary sessions are entitled “Exploring Investment Opportunities in Nepal” and “Success Stories of Investments in Nepal”. 

Similarly, there will be discussions on nine topics in three parallel sessions along with concluding session on the second day of the Summit. 

There will be discussions on Navigating Nepal’s Renewable Energy Potential, Innovative Financing Landscape, Investment Opportunities in Green and Climate Resilient Business in Nepal, Harnessing Green Finance for Sustainable Development, Investing in Tourism Paradise, Strengthening Nepal’s Agro Processing Value Chain for Export Growth, Driving Innovation and Growth in Manufacturing, Enhancing Nepal’s Startup Climate and Ease of Doing Business and ICT: A Vibrant Investment Platform. There will be a session on Leveraging PPP for Infrastructure and Services.

About 1,700 people from 55 countries participating

More than 1,700 people from home and abroad will take part in the two-day Summit, according to CEO Bhatta. Invitations were sent to more than 2,400 people for the Summit.

The investors, high-level government dignitaries from about 55 different countries are coming for the Summit. The participation of 385 people from Nepal in the Summit has been confirmed.

In the Summit, high level government dignitaries, investors (domestic, non-resident Nepali and foreign), development partners, development finance institutions, multilateral development banks, development missions, experts and think tanks and private sector organsisatins, national and foreign media and other stakeholders would take part in the Summit.

Similarly, around 300 persons from China, 250 from India, 33 from the United States, 28 from Japan, 14 from the United Kingdom, 13 from Bangladesh, 13 from the United Arab Emirates (UAE) and 10 from Germany are participating. 

According to the OIBN, nine persons each from South Korea, Australia and Malaysia are taking part in the Summit. Eight people from Pakistan, six from Singapore, five each from Qatar and Ghana, four each from Saudi Arabia, France and Bahrain are said to participate.

Similarly, three each from Switzerland, Finland, Russia, Austria, Sri Lanka and Colombia are coming to Nepal for the Summit. 

It has been confirmed that two people each from Philippines, Kuwait, Canada, Mauritius, Belarus and Belgium will participate in the Summit. 

Similarly, investors and government officials from Egypt, Norway, Italy, Senegal, Netherlands, Poland, Indonesia, Tajikistan, South Africa, Romania, Mexico, Ireland, Slovenia, Vietnam, Bosnia, Morocco, Turkey, Vanuatu, Mauritania and Hong Kong are also confirmed to participate in the Summit, said the IBN.

Above 150 projects to be showcased 

The Office of Investment Board Nepal (OIBN) has prepared a list of 151 projects for showcasing for foreign investment at Summit. 

These projects are expected to contribute to the overall development of the country and external investment together with the government’s and the private sector’s investment is necessary for managing adequate capital, technology and human resources for implementation of these projects. 

Among the projects to be showcased, 19 are related to the transport sector, 13 to the mining and minerals sector, 13 to the tourism sector, 14 to the agriculture sector, five to the production sector, seven to the industrial infrastructure and trade sector, three to the health and education sector, two to the communications and information technology sector, four to water supply sector and six to urban development sector. 

Likewise, the private sector is also showcasing 31 projects for foreign direct investment in the Summit. 

The feasible projects from various sectors, including hydropower, transport, tourism, multipurpose parking, expressway, tunnel way and agriculture are included to be displayed among the participants of the Summit.

Most of them are hydroelectric projects. Among the projects prepared to be presented at the Summit, more than three dozen are related to hydropower, solar, fast charging stations and transmission lines.

Among the 31 private sector projects, 19 hydropower projects are selected by the Office of the Investment Board are to be presented by the private sector.

The IBN will present the projects with all their features, including financial analysis.

According to IBN, the Board has decided to showcase Tiplyang Kali Gandaki Hydroelectric Project, Middle Kaligandaki Hydroelectric Project, Upper Sani Bheri Hydro Electricity Project, Mugu Karnali Hydropower Project, Pelma Khola Hydropower Project, Dhana Khola Hydropower Project, Upper Budhigandaki Hydropower Project, Landruk Modi Hydropower Project, Balephi Khola Hydropower Project, Chuwa Khola Hydropower Project, Nar Khola Hydropower Project and Upper Chuwa Luruppa Khola Hydropower Project.

Similarly, Upper Apsuwa Hydropower Project, Upper Bheri Hydroelectricity Project, Surke Dudhkoshi Hydropower Project, Upper Marsyangdi-1 Hydropower Project, Apsuwa Khola Hydropower Project, Mahakali Seti Hydropower Project (54 MW) and Seti Nadi Peaking Hydropower Project (72 MW) are set to be showcased in the Summit.

Apart from this, Happy Land Fun Park and Resort at Surunga in Jhapa, Natural Agriculture Farm at Taulihawa, Sikles-Annapurna Cable Car, Jalpadevi Cable Car, IME Cement at Baitadi, Kathmandu Technical School, Compost Fertilizer and Revolving Parking Project have been selected.

The proposal to build 10 luxury hotels on the trails of Mount Everest in three phases and a Bharatpur Island Resort and Waterland and Limestone Excavation and Transport are also being presented to foreign investors at the Summit.

Under the IBN, Naumure Multipurpose Project (281.04 MW), Khimti Those Siwalaya Storage Hydropower Project (1216 MW), Kaligandaki-2 Storage Hydropower Project (650 MW and Bharbhung Storage Hydropower Project (337.1 MW) are also set to be presented.

The projects relating to promoting investment in ginger value chain, large cardamom chain, highland potato value chain project and value chain of Timur (Sichuan pepper) project are set to be displayed among the investors.

Out of the projects presented by the Board, the interested investors are asking for letters of intent (expression of interest) for above a dozen investment projects, said the IBN.