Nepal Investment Summit: Environment conducive for investment created

Nepal Investment Summit 2019

KATHMANDU, March 29: Minister for Foreign Affairs, Pradeep Kumar Gyawali, has said that the government has created environment conducive for investment in the country in order to attract foreign investors. Chairing the first session on ‘Investment Opportunities in Nepal’ under the Nepal Investment Summit 2019, Foreign Minister Gyawali said that Foreign Investment and Technology Transfer Act, Public Private Partnership Act and laws related to investment have been given completion in course of creating investment-friendly environment.

He said that Nepal is a virgin land for investment, clarifying investment-friendly act, hardworking youths and favorable political environment would make it easy for domestic and foreign investors to invest in Nepal.

Saying a one-point service center has been established for facilitating investors as well as policy and procedure-level facilitation has been made, the Foreign Minister presented the fact that environment has been created where projects above 200 mega watt and above Rs 6 billion can be invested easily.

Minister Gyawali said that an arrangement has been made to register companies and to pay revenue through online, adding that all types of services would be provided in an easy and smooth manner. “I believe that the summit will create significant opportunities for investors,” he said.

Presenting the projects, Secretary at the Finance Ministry, Lal Shanker Ghimire, said that one can invest in road network, railway, energy, agriculture and tourism sectors without any doubt. He said agreement regarding dual tax exemption has been signed with 11 countries and an agreement has been recently signed with Bangladesh in this regard.

Secretary Ghimire said that the government has set a target to transform Nepal into a middle-income within 2030 and added that Nepal is the appropriate place for investment due to young human resources, easy access to market and international privileges received by the countries having low income.

Similarly, former President of Federation of Nepalese Chambers of Commerce and Industry, Suraj Vaidya, said that construction works of Arun III hydropower project have been started and added that preparation of detailed project report of solar project of 200 megawatt and 85-kilometer Pokhara-Muktinath cable car was underway. RSS