Nepal is marking the year 2012/13 as the Nepal Investment Year to bring in increased foreign direct investment (FDI).[break]
Chandra Ghimire, Nepali consul general in Kolkata said the conference aims to invite increased investment in Nepal from renowned Indian business houses including those involved in hydropower, tea, coffee and herbs processing, andtourism as well as iron and steel production sectors.
"This event, which is bringing together eminent figures from business community from both India and Nepal, will provide a platform to us to inform to the big Indian investors about potential investment sectors in Nepal and ongoing efforts made to create favorable investment climate in Nepal," said Ghimire.
India, which is the largest investor with more than 45 percent of total FDI in Nepal, has joint-venture investments in mainly banking, manufacturing, tourism, hydropower, agriculture, among other sectors.
Nepal had signed Double Taxation Avoidance Agreement (DTAA) and Bilateral Investment Protection and Promotion Agreement (BIPPA) with the southern neighbor last year to create favorable environment for promoting trade and investment between two countries.
Nepalese Consul General´s Office in Kolkata and Confederation of Indian Industries (CII) -- an umbrella body of Indian business sector -- and Nepalese Embassy in New Delhi are jointly organizing the one-day conference.
According to Ghimire, the meeting will target Indian investors mainly based in Kolkata and other parts of West Bengal state of India.
"We will inform the investors about viable and potential projects showing Nepal as one of the vibrant investment destinations," Ghimire said.
On the occasion, Nepali business community will inform the conference about the potentiality of hydropower in Nepal, Nepal Investment Board (NIB) -- a government´s focal agency that oversees and coordinates investment in Nepal -- representative will make a presentation about the government´s priority projects for foreign investment while Indian investors will inform about their interests of investment in Nepal.
FNCCI President Vaidhya is making a presentation on the investment scenario in Nepal whereas NIB will present a paper on "Investment Potential and Recent Policy Initiatives in Nepal". "Indian investors are presenting the success stories of different sectors of investment on the occasion," he said.
Suraj Vaidhya, president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), representative from NIB and acting Nepali ambassador to India, Khaga Nath Adhikari are among the Nepali participants in the event.
"Besides Nepali participants, around 60 big investors from India will take part in the event," he said.
Vaidhya also said Nepali delegates will inform Indian investors about the potentiality of hydropower, herbal, manufacturing, agro-processing industries for tea, coffee, ginger, cardamom and tourism, education, engineering related service sectors in Nepal.
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