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IBN to showcase 24 projects at investment meet

HIMALAYAN NEWS SERVICE

Kathmandu, March 5

The government will showcase two dozen viable projects related to different sectors at the upcoming Nepal Investment Summit, which is scheduled to take place on March 29 and 30.

Along with the eight projects that the Investment Board Nepal (IBN) already has in its project bank, the board is finalising 16 new feasible projects to be showcased among the potential foreign and domestic investors. Maha Prasad Adhikari, chief executive officer of IBN, informed that the board will finalise all these projects within this week. “We have collected the details of the feasible projects in different sectors through related ministries and provincial and local governments. A technical committee has been finalising the details of such recommended projects and will finalise them by this week,” he mentioned.

These new projects will cover different sectors including urban transportation, agriculture, health, information and communication technology (ICT), mines and minerals and tourism, among other sectors. As per Adhikari, the IBN has carried out the pre-feasibility study (base study) of all the new projects to be presented at the summit. The board will provide basic information of such new projects including the estimated cost, opportunities of the project and challenges to potential investors at the summit.

The eight projects that IBN already has in its project bank are a chemical fertiliser plant, East-West Electrified Railway, East-West Railway Link to India, Kathmandu Valley Metro Project, Kathmandu-Kulekhani- Hetauda Tunnel Highway, Kathmandu-Pokhara Railway, Tamakoshi-3 Hydropower Project and Second International Airport Project at Nijgadh. “All these projects will also be showcased at the summit,” said Adhikari. Meanwhile, IBN has informed that almost 650 foreign delegates, including potential investors have confirmed their participation at the two-day Nepal Investment Summit. Among other high-level delegates, energy ministers from India and Bangladesh are likely to grace the event. The event is scheduled to be inaugurated by Prime Minister KP Sharma Oli.

The government is hosting the event primarily to showcase the investment potential of the country, including recent reforms made in policies related to investment and business. Being organised with the theme of ‘Nepal: A Promising Investment Destination’, the summit aims to present Nepal as a favourable investment destination by showcasing opportunities for investment. The summit is expected to be a platform for investors to understand the investment environment and opportunities in Nepal through prominent national and international speakers, dignitaries, sectorspecific experts, and high-ranking government representatives.

Talking to The Himalayan Times a few days back, Finance Minister Yubaraj Khatiwada had said that the government has not set any target for investment commitments at the summit. “It is rather to showcase the changes that we have made in policies that have made the investment climate of the country better.”

Link - https://thehimalayantimes.com/business/ibn-to-showcase-24-projects-at-investment-meet/