Prime Minister Pushpa Kamal Dahal’Prachanda’, has emphasized Nepal’s appeal as an investment destination during the inauguration of the ‘Nepal Investment Summit 2024’.
He highlighted Nepal’s potential for investment in legal, geographical, and strategic aspects, underlining the country’s commitment to a liberal economic policy and the recent amendments to laws related to business and investment. These changes aim to create a more conducive environment for investors, entrepreneurs, innovators, and businessmen.
Prachanda pointed out that Nepal offers various incentives to foreign investors, including a strong regulatory framework, double taxation avoidance regime, and protection of intellectual property rights.
Additionally, the government has recently approved a Bilateral Investment Agreement to further promote bilateral investment. He encouraged friendly countries to sign such agreements.
The Prime Minister emphasized that Nepal’s liberal policies, skilled workforce, and competitive labor costs make it an attractive destination for international investors. He highlighted the potential for growth in sectors such as tourism, agriculture, manufacturing, information technology, garments, agro-processing, and infrastructure.
Prachanda also mentioned the significant opportunities in the hydropower sector, with large-scale projects underway through public-private partnerships.
Infrastructure developments, including cross-border transmission lines with India and China, support energy exchange and trade cooperation. Nepal’s tourism industry and IT sector are experiencing rapid growth, while sectors like agriculture and manufacturing offer promising investment prospects.
Special Economic Zones and industrial districts demonstrate Nepal’s commitment to economic growth and industrial development. The country’s strategic location between India and China, along with regional trade agreements, further enhances its investment appeal.
Prachanda highlighted the streamlined investment approval processes through the Department of Industry and Investment Board Nepal, providing one-stop services for investors. Successful companies with significant foreign investment showcase the profitability of investing in Nepal.
The Prime Minister sees these developments as the beginning of a new era of collaboration, projecting Nepal as a global investment destination.
The summit serves as a platform to showcase investment opportunities and foster collaboration for economic transformation and prosperity.
