News Article

Finance Minister Mahat urges foreign investors to invest in Nepal's energy, tourism sectors

By Republica

Published: January 11, 2024 10:30 AM

KATHMANDU, Jan 11: Finance Minister Dr Prakash Sharan Mahat has invited investors of India and other countries to participate in the Investment Summit scheduled to be held on April 28 and 29 in Kathmandu.

He also urged them to invest in energy, tourism and agriculture sectors of the country.

Addressing heads of the nation, ministers and investors of different countries participating in the Vibrant Gujarat Global Summit-2024 organized in Gujarat of India on Wednesday, the Finance Minister invited the investors to the investment summit, according to the Finance Minister Mahat's Private Secretariat.

On the occasion, he said, "Nepal is hosting an investment summit on April 28 and 29. I would like to invite investors of India as well as other countries to the summit. I hope your innovative business idea and investment decision will be a new milestone for Nepal's development."

Sharing that there is a huge opportunity of investment in Nepal's energy, tourism, agriculture and information technology sectors, the Finance Minister mentioned that education, production, construction, transport, mines, banking and financial services are also other areas of investment possibility.

He lauded the Vibrant Gujarat Concept imagined by Prime Minister of India, Narendra Modi, in 2003, adding "Vibrant Gujarat Development Model being adopted nation-wide has now become the source of inspiration for many countries including Nepal for management of finance resources and technical knowledge in address the current economic, social and environmental challenges."

Finance Minister Mahat shared that Nepal and India have recently signed an agreement for exporting 10,000 MW electricity from Nepal to India in the next 10 years, which he said would be an immense opportunity for Nepal's hydropower sector.

"Nepal has adopted liberal, market-oriented economic policy since the beginning 90s and is the member of many international organizations and multilateral agencies. We have been implementing trade and investment policy and regulations as per international criteria", he stressed.

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