3rd Nepal Investment Summit concludes with vital agreements to bring in FDI

April 30, Kathmandu: The third Nepal Investment Summit concluded in Kathmandu on Monday, with several agreements signed to boost investment.

Notable agreements include collaboration in data centre construction between BLC Group Nepal and Yotta Data Services Private Limited India, and cooperation between the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Malaysian entities to promote bilateral trade.

Another significant pact involved bilateral cooperation in Public-Private Partnership (PPP) promotion between the World Association of PPP Units and Professionals (WAPPP) and the Nepal Association of PPP Professionals of Practitioners NAP.

Additionally, agreements were made in the hotel businesses, and to facilitate investment from Chinese companies.

An Australian group committed to investing in a resort at Rara Lake in Mugu district.

The Department of Industry approved investments worth Rs 9.13 billion for various projects, including an investment company in Bhaktapur and a commercial building complex in Kathmandu.

Foreign investment approval through an automatic route system was inaugurated, streamlining the process.

Furthermore, agreements were reached for remittance-based hydropower projects and trade facilitation with delegates from Croatia.