KATHMANDU, April 26: One hundred and fifty-one projects are to be showcased in the Third Investment Summit 2024 taking place in the federal capital on April 28 and 29. The Summit has the objective of implementing projects promoting the economy, including establishing factories and industries by bringing in foreign direct investment in these sectors.
These projects are believed to contribute to the overall development of the country and external investment together with the government's and the private sector' investment is necessary for managing adequate capital, technology and human resources for implementation of these projects.
The 58th Meeting of the Investment Board has decided to call for a letter of intent and hold extensive discussions with the investors for the projects.
Ensure follow-up for increased FDI
Among the projects being showcased in the Summit, the highest number is from the energy sector. Thirty one projects in the energy sector are being presented for investment, said Board's spokesman Pradyumna Prasad Upadhyay.
Similarly, among these projects, 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.
According to Upadhyay, the government has attached high priority to the private sector investment, including foreign direct investment (FDI).
"Relevant laws have been amended/ enacted to foster an investment-friendly environment, 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," Upadhyay added.
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