A golden age has started in energy development sector: PM Oli

Kathmandu / May 31: Prime Minister KP Sharma Oli has said a golden age has started in the energy development sector in Nepal.

The Prime Minister said this while inaugurating the Nepal Power Investment Summit, 2016 here today. The summit is organised jointly by the Ministry of Energy, the Investment Board and the Energy Development Council.

He said the development of the energy sector is the primary condition as the country has entered into a new phase of development.

Stating that efforts were on to making Nepal an investment hub, he urged the investors and the entrepreneurs to invest with open heart.

“The investment made in Nepal is secured. Invest here with confidence. The government is ready to extend the required support. It has brought forth a concrete plan on this. Put your investments without any qualms,” PM Oli said about the investment-friendly climate in the country.

Mentioning that works were afoot with the objective of exporting energy while meeting the country’s internal demands, he said the meaningful cooperation and support of all sectors concerned was needed for the development of the energy sector.

On the occasion, National Planning Commission (NPC) Vice Chairman Dr Yubaraj Khatiwada stated that the government has made policy reforms and prepared investment-friendly environment for the development of the energy sector.

“The government has made the necessary preparations with the goal of generating 10 thousand megawatts electricity within 10 years. The country has turned into a golden place for investment,” he asserted.

Executive Chief of the Investment Board Nepal, Radhesh Panta argued that an investment-friendly climate has been created with the board facilitating the development of the hydroelectricity projects of more than 500 megawatts and big projects.

More than 125 investors from 25 countries interested in investing in Nepal are participating in the conference that will last until Wednesday. Different working papers on the modality, technology and plans to be adopted for the development of the energy sector are to be discussed in the conference.

Participants from America, Great Britain, India, China the Czech Republic, Bhutan among other countries will address the conference expressing their views on the prospects of investment in the energy sector in Nepal.

The recommendations of the conference would be presented to the government. The foreign investors and entrepreneurs would also be taken on a tour of different hydroelectricity projects as well as places with investment potentials.

The participants have expressed the belief that the power investment summit would be effective in terms of the development of the energy sector in Nepal citing the electricity generated in Nepal will have easy access to the international market in the context of Nepal and India already signing a power trade agreement. RSS