SANN News
Dr. Prakasharan Mahat, Minister of Finance and Coordinator of the Investment Conference Steering Committee, said that international investors are getting interested in investing in Nepal. The third meeting of the 3rd Investment Conference Director’s Committee was held today under the coordination of the committee’s coordinator and Finance Minister Dr. Mahat.
In the meeting, there was a discussion regarding the reports and projects on policies, laws and structural reforms prepared in view of the investment conference. Addressing the meeting, Finance Minister Dr. Mahat instructed to seriously prepare the project as international investors are getting interested in investing in Nepal. The conference is an opportunity for us to attract investment. The government is always ready for legal and policy reforms to attract foreign and Nepali investors and even non-resident Nepali’, he said, ‘Investment that conveys the message to the world community that Nepal is an excellent destination for investment by facilitating investment, project implementation and operation and repatriation of profits. The main objective of the conference is.
In the meeting, Minister Dr. Mahat informed that the World Bank is ready to organize a conference of World Bank subsidized lending institutions (ID) in Nepal in the coming month of June. He said, “The official letter is coming in a few days. Till now, the biggest international conference will be held in Nepal. Representatives of more than 92 countries, including the president of the World Bank, will participate in the conference. Earlier, he said, the investment conference will be held on April 28-29 (May 16-17).
Minister Dr. Mahat said, ‘If this conference is made successful, not only multinational companies but also private investment will increase in Nepal.” The report was presented. The report has been prepared with the participation of the private sector as well, and the report has been prepared by incorporating the input received in the meeting of the Investment Conference Implementation Committee chaired by the Chief Secretary. Based on the report, the Bill, 2080 to amend some Nepal Acts to facilitate investment, will be submitted to the parliamentary process for approval after the approval of the Council of Ministers through the Ministry of Industry, Commerce and Supply.
In order to remove the legal and policy obstacles in industry, business and investment, and to remove the difficulties and delays experienced in the implementation of construction projects, the task force passed the Industrial Business Act 2076, the Foreign Investment and Technology Transfer Act 2075, the Special Economic Zone Act 2073, the Forest Act 2076, the National Parks and Wildlife Act. Conservation Act 2029, Land Act 2021, Land Acquisition Act 2034, Environment Protection Act 2076, Electronic Business Act 2063, Nepal Civil Aviation Authority Act 2053, Foreign Investment and Technology Transfer Regulations, 2077 and Forest Regulations, 2079 proposed.
Similarly, Mukund Niraula, Secretary of the Ministry of Industry, Commerce and Supply, the coordinator of the technical committee, made a presentation regarding the preparation of the project to be presented at the third investment conference. The technical committee has classified the projects in various stages of project study and prepared a preliminary list of the projects and proceeded with further homework.
In the meeting, energy, water resources and irrigation, industry, commerce and supply; Agriculture and Livestock Development; Ministers of the Ministry of Culture, Tourism and Civil Aviation, Urban Development, Forestry and Environment, Vice Chairman of the National Planning Commission, Chief Secretary to the Government, Advisor to the Ministry of Finance, Governor of Nepal Rastra Bank, Secretaries of various ministries, Confederation of Nepal Industry and Commerce, Confederation of Nepal Industry and Nepal Chamber of Commerce The chairman and others were present.
