Third Investment Summit kicks off today, govt to dangle 151 projects; Two agreements signed

Kathmandu / April 28: The Third Investment Summit has started in the capital from today. It is being organized to bring in foreign direct investment and launch development projects for the country’s economic progress.

The government is dangling 151 projects. The event inaugurated by Prime Minister Pushpa Kamal Dahal ‘Prachanda’ is being attended by over 1600 investors from 55 plus countries.

Nepal Investment Board has informed that there will be 23 exhibition stalls along with detailed information on the projects in the conference. Similarly, concept notes would be called for 19 projects.

The two-day international event features 11 parallel sessions on Monday. The first day witnesses inauguration session and two major sessions.The investors will be provided opportunities to interact with PM Dahal and Finance Minister Barsha Man Pun in course of the summit.Private sector, partner of economic development, is the co-organizer of the event.Several noted international figures including Indian Minister for Commerce and Industry, Piyush Goyal; State Minister for UK Asia Pacific Affairs, Anne-Marie Trevelyan; Minister of State for Development and Africa, Andrew Mitchell; UNCTAD Secretary General Rebeca Grynspan; Chairman of China International Development Cooperation Agency, Luo Zhaohui are addressing the summit.Similarly, Vice President Chair of ADB, Yingming Yang; Acting Vice Chair of Asian Infrastructures Investment Bank, Rajit Mishra; Indian Ambassador to Nepal, Naveen Shreevastav; Executive Director of ITC India, Supratim Datta, and Senior Vice Chair of US Chamber of Commerce, Atul Keshap, also in the list to address it.The event will also be addressed by former Prime Minister and major opposition leader Sher Bahadur Deuba, Finance Minister and summit convention committee director, Barsha Man Pun, and leaders of Nepali business community.

Two agreements between private sector entities signed at Nepal Investment Summit

During the Nepal Investment Summit-2024 in Kathmandu, two agreements were signed between private sector entities, reflecting progress in fostering international partnerships.

Following the opening session of the Nepal Investment Summit-2024, one agreement focused on promoting professional cooperation between domestic and foreign business organizations.

One agreement was reached between the Federation of Nepalese Chambers of Commerce & Industry (FNCCI) and the National Chamber of Commerce & Industry of Malaysia (NCCIM) to promote bilateral trade and investment.

The FNCCI President Chandra Prasad Dhakal and NCCIM President Tan Sri Soh Thian Lai signed the agreement.

Similarly, another agreement involved two business groups of Nepal and India to collaborate on the construction and operation of the data center. This agreement was signed by BLC Holdings Nepal and Yotta Data Services India for setting up a data center. BLC Group Managing Director Megha Chaudhary and Yotta CEO Sunil Gupta formalized the cooperation.