Title: Global Investors Laud Nepal’s Untapped Potential at Investment Summit
Subtitle: Representatives from friendly nations, development partners, and private sectors express keen interest in exploring Nepal’s diverse investment opportunities across key sectors.
News Article: Kathmandu, 1st May 2024 – The third Nepal Investment Summit, which commenced in Kathmandu on Sunday, has witnessed an outpouring of interest from global investors and stakeholders eager to tap into Nepal’s vast untapped potential. Representatives from friendly countries, development partners, diplomatic missions, and domestic and foreign private sectors have expressed their desire to explore Nepal’s promising sectors by increasing investments.
Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), urged investors worldwide to seize the opportunity and invest in Nepal’s expanding economy. He emphasized the country’s colossal untapped sectors and its potential as an investment destination, highlighting Nepal’s strategic location between the economic powerhouses of China and India, underscoring its significance as a gateway to vast markets.
Dhakal highlighted the abundant opportunities across various sectors, including tourism, infrastructure, energy, agriculture, and information and communication technology (ICT). He particularly underscored the immense potential in renewable energy, citing recent agreements for power trade with India and Bangladesh as indicators of Nepal’s capability in hydropower generation and regional trade.
Emphasizing the need for modern infrastructure in tourism, agriculture, and technology sectors, Dhakal stressed the importance of harnessing Nepal’s rich cultural heritage, natural beauty, and young, dynamic workforce. He also highlighted the significance of investing in technical education to bridge the gap between demand and supply of skilled human resources, thereby boosting both domestic employment and remittance inflows.
Dhakal commended the government’s efforts in implementing business-friendly policies and initiatives to facilitate foreign investment, including recent amendments and bilateral investment agreements. He assured continuous support and commitment from the Nepali private sector for joint ventures in all potential sectors, citing FNCCI’s role in boosting investor confidence through international business summits.
Rajesh Kumar Agrawal, President of the Confederation of Nepalese Industries (CNI), highlighted Nepal’s unparalleled natural beauty, including the majestic Himalayan range and diverse cultural heritage, making it a prime destination for adventure seekers, nature enthusiasts, and cultural tourists. He urged foreign investors to explore the diverse array of opportunities Nepal offers across various sectors, emphasizing the country’s commitment to capitalizing on the momentum generated by the summit and translating it into tangible investments that drive job creation, infrastructure development, and socio-economic progress.
Kamlesh Kumar Agrawal, President of the Nepal Chamber of Commerce and Industry, stressed the need for strategic investment, innovative and long-term partnerships for the country’s prosperity. He urged international investors to invest in the fields of tourism, hydropower, infrastructure, and information technology in Nepal, highlighting the country’s advantages, such as a cheap labor force and proximity to the vast consumer markets of India and China.
Through a video message, Piyush Goyal, Minister for Commerce and Industry of the Government of India, urged foreign investors, including India, to invest in Nepal’s potential sectors, expressing solidarity for continuous support for Nepal’s development and underscoring the deep Nepal-India ties.
Luo Zhaohui, Chairman of CIDCA, said Chinese investors are highly interested in investing in Nepal’s hydropower, tourism, industrial, and agricultural parks, emphasizing the need for an ease and investment-friendly environment to attract foreign investment.
Ambassadors from China, India, the United States, and representatives from various organizations, including the United States Chamber of Commerce, praised Nepal’s investment potential and expressed their commitment to supporting the country’s socio-economic development through increased private sector investment and partnerships.
The Nepal Investment Summit 2024 has served as a platform for stakeholders to highlight Nepal’s promising investment landscape and foster collaborations that drive sustainable growth and prosperity.
