Nepal Investment Summit 2019 officially kicks off

Published On: March 29, 2019 10:23 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, March 29: Amid a special function, Nepal Investment Summit 2019 officially kicked off with National Anthem in the capital on Friday morning.

Prime Minister KP Sharma Oli inagurated the event. Now, the prime minister made the special address during the inagural session.

Oli said that development agenda and foreign investment enjoy national consensus in Nepal.

He said that all political forces in the Parliament stand together to invite and encourage foreign investment. 

"We do not want any further delay in our journey towards prosperity. Speedy and comprehensive development is the only option and call of the hour for us," the prime minister said while urging the foreign investors to join hands in the country's drive to make Nepal prosperous and the Nepali people happy. 'We highly value your support and solidarity," Oli said.

The prime minister shared that Nepal's immediate goal is to graduate from Least Developed Country status and the medium term goal is to become a middle-income country and achieve Sustainable Development Goals by 2030. 

"To realize this, we need to attain a double-digit growth over the next years. A tentative estimation by the National Planning Commission is that the country would require an investment of over 97.77 trillion Nepali rupees (about 88.18 billion USD) over the next five years," he said adding that domestic resources alone would not be sufficient to meet this requirement. "This is where we would like to urge you to come and assist us in meeting huge investment needs," Oli said.

Prior to the address by the prime minister, Finance Minister Yubaraj Khatiwada, who is also the convener of the organizing committee, made a special address during the inaugural session at Hotel Soaltee. Khatiwada briefed the participants about the investment environment in the country and what the government has to offer to investors.

Nepal government is eyeing billions of dollars in foreign investment in key development sectors, to attain the goal of a prosperous Nepal.

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