The Government of Nepal is gearing up for the highly anticipated Nepal Investment Summit 2024, set to kick off on April 28 in Kathmandu. This two-day event, themed ‘Emerging Nepal,’ aims to showcase 125 national-level projects across various sectors to attract investment and foster economic development in the country.
Prime Minister Pushpa Kamal Dahal, in discussions with development partners, emphasized the government’s unwavering commitment to creating a secure and conducive investment climate. The Investment Board of Nepal (IBN) has extended invitations to over 1,100 potential investors, with more than 100 projects identified as viable for display at the summit.
Nepal boasts promising investment prospects in sectors such as clean energy, tourism, agro-processing, mining, information and communication technology (ICT), transportation, and manufacturing. Highlighted projects include the Nepal-China Friendly Industrial Park in Jhapa, the Upper Marsyangdi-2 Hydropower Project, grid-connected solar initiatives in Banke and Kapilvastu districts, and a potential agreement with Dabur Nepal for expanding production capacity.
The estimated cost of the Nepal-China Friendly Industrial Park is $786 million, while the Upper Marsyangdi-2 Hydropower Project seeks $647 million in Chinese investment. Grid-connected solar projects and Dabur Nepal’s expansion plan also present significant investment opportunities, showcasing Nepal’s appeal to prospective investors.
Despite past investment summits in 2017 and 2019 aimed at boosting Nepal’s attractiveness to investors, challenges remain in translating summit outcomes into tangible results. The government has undertaken pre-event activities abroad and streamlined preparations, but delays in amending relevant legislation persist, hindering progress towards creating a more investor-friendly regulatory environment.