Concluding Remarks by Deputy Prime Minister and Minister for Foreign Affairs Hon. Mr. Narayan Kaji Shrestha Third Nepal Investment Summit 2024 Kathmandu, 29 April 2024
Honourable Former Prime Minister,
Distinguished Delegates,
Members of Business Houses,
Distinguished Participants,
Friends from the Media,
Ladies and Gentlemen,
I feel honored to be amongst you this evening in the concluding Session of the Third Nepal Investment Summit 2024.
We began this Summit with prominent views of distinguished dignitaries and high-level officials including through the video messages from our friends. We highly value their perspectives and commitments to further strengthening development partnership with Nepal.
The presence and commitments from our senior leaders and prominent figures speak volumes about this Summit. In the opening ceremony yesterday, the Right Honourable Prime Minister of Nepal highlighted the policy incentives we have offered to foreign investors. He also encouraged friendly countries to consider concluding Bilateral Investment Agreements (BIAs) with Nepal to promote investments.
Distinguished Delegates, Ladies and Gentlemen,
During these two days, we listened to different views and perspectives from policy makers, entrepreneurs, think tank organizations as well as experts and professionals in different plenaries and panel sessions.
We listened to firsthand narration of success stories. We tried our level best to provide an overview of the progressive investment-friendly environment in Nepal. Moreover, we have conducted B2B and B2G meetings including with the Rt. Hon. Prime Minister. Various MoUs and Agreements have been signed between business houses and organizations.
Likewise, we have showcased different projects on offer and have dwelt upon investment potential and opportunities available in various sectors of the economy. On top of them, we have witnessed the highest political assurances, from the government as well as the leaders of the opposition party for facilitating investments in Nepal. CEO of IBN Mr. Sushil Bhatta a while ago has well captured the range of activities and engagements in this Summit.
All these testimonies zoom in towards the distinct direction of Nepal giving clear message of becoming an attractive investment destination.
Dear Friends,
Following the settlement of much of our political aspirations in recent years, we are gearing up towards the trajectory of high economic growth, to realize the long-cherished aspirations of Nepalis for progress and prosperity. Hence, economic development and prosperity are the main historical tasks of the country, to which the government is fully committed.
Economic growth will also be crucial as Nepal is graduating from an LDC status in 2026, is pursuing the goal of achieving a middle-income country status by 2030, and is striving to achieve internationally committed development goals including the SDGs.
While we aim for attracting higher investment, we are aware that such an investment should be mutually beneficial to the investors and partners as well. Hence, we are working with the goals of offering a dynamic investment landscape to our investors while ensuring optimum protection and security of investments, returns and repatriation, along with efficient and effective facilitation for the entire business cycle.
Yesterday, the Government issued an ordinance amending eight different laws and legislations moving ahead in this direction. Similarly, only two weeks ago the Government approved the model framework Bilateral Investment Agreement to open the way for bilateral investment agreements with interested countries.
Distinguished Delegates, Ladies and Gentlemen,
We presume that our abundant natural resources, our young and dynamic work force, growing consumer market at home, our access to largest economies and the populations in the neighborhood, and our commitment to transforming Nepal into an investment hub are our strengths.
I believe that this third episode of Nepal Investment Summit has been a platform to showcase Nepal as an emerging destination for global investors. This Summit stands as a testament to the government’s unwavering commitment to transforming Nepal into a premier investment destination.
I thank Mr. Sushil Bhatta, CEO of IBN and his team as well as all government and private organizations that contributed to the successful hosting of such a mega event with over 2000 participants from over 50 countries.
I am also thankful to all the Ministers, distinguished dignitaries, high level government officials, senior executives of business houses both from abroad and home as well as friends from the media for your impassioned participation, encouraging engagements and enriching meetings in various forms and formats during this Summit.
I hope all visiting dignitaries and delegations have had a pleasant stay in Kathmandu so far and I wish you a more pleasant stay until you depart from Kathmandu. We wish to welcome you again in future not only for furthering our engagements and business but also to reinforce the bond of friendship and cordiality created on this occasion.
Dear Friends,
We are highly encouraged to witness your support and participation in the Summit, making investment commitments, exploring investment potentials in Nepal, and taking this opportunity as a gateway for exploring business potentials.
I will conclude by reiterating the commitment of the Government of Nepal to facilitate each and every investment prospect and potential.
We are confident that our good friends and partners represented by you here will support ahead in our endeavors to boost up investment in Nepal, further widening and deepening our collaborations for our mutual benefits.
I thank you all for your kind attention.