‘Nepal has investment-friendly environment’

April 29, Kathmandu: Various national and international entrepreneurs participating in the third Nepal Investment Summit 2024 summed up that Nepal has an investment-friendly climate and also had ample of opportunities for investment.

The participants in the session ‘Success Stories of Investment in Nepal’ in the Summit on Sunday shared stories about successful businesses they had in Nepal and aired their opinions about prospects of investment in the country.

The session was presided over by the Chief Secretary of the government of Nepal, Dr Baikuntha Aryal, where former CEO of the Investment Board, Radhesh Pant, made a presentation.

During the session, a member of the Board and former President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Bhawani Rana, enlightened the participants about the investment-friendly climate in Nepal besides shedding light on the situation of labourers here.

She also shared her personal experience about the possibilities of investment in Nepal’s emerging digital economy. Likewise, Devyani Rajya Laxmi Rana, Coca-Cola’s Vice-President, Public Affairs, Communications and Sustainability for India and South West Asia, shared about the businesses they were running in Nepal and their success stories.

Likewise, Arun Dhiman, CEO of SJVN Arun-3 Power Development Company, said that they had invested heavily in the hydropower sector of Nepal and articulated his readiness to bring more investment in coming days.

Sinohydro-Sagarmatha Power Company Limited’s Managing Director, Hou Zong, said that they had brought in Chinese investment, technology and skills to Nepal by delivering on large infrastructures such as hydropower projects here.

Unilever Nepal’s Managing Director Amlan Mukharjee divulged that his company was increasing its products in Nepal and urged to ensure a more favourable investment-friendly climate in Nepal.

Mogha Energy, USA’s Vice-President Samrath Mogha narrated his positive experience about how convenient it was for his company to consider investment in Nepal.

In the context of Nepal’s government’s goal to export 10,000 megawatts of electricity within 10 years, he opined that there were challenges of investing more in physical infrastructures in the hydropower sector.

Gokarnaraj Awasthi, Director General of the FNCCI, asserted that there was a huge market potential in Nepal’s two big neighbouring countries-India and China- and indicated that there was huge potential for investment in domestic goods production in Nepal.

The Summit, aimed at attracting foreign direct investment and implementing economic development projects, will run through tomorrow. There were altogether 153 projects showcased for investment in the Summit inaugurated by Prime Minister Pushpa Kamal Dahal ‘Prachanda’.

Over 2,000 investors from over 60 countries were participating in the Summit, PM Dahal said while talking to media persons on conclusion of the inaugural session of the Summit.