Kathmandu, April 28: The much-hyped Nepal Investment Summit is going to start today.
Prime Minister Pushpakamal Dahal is going to inaugurate the third summit organized to attract foreign direct investment (FDI). Although the government has high expectations about the summit outcome, economic observers believe that to attract FDI, Nepal should have a stable government, and continuity of works started by previous governments from successive governments. Furthermore, there should be investment-friendly rules and regulations.
The government was unable to amend different laws related to investment from Parliament, and now, it has decided to issue different ordinances. Ordinances are the temporary laws only. Finally, they have to be approved by Parliament within three months, otherwise, they will expire.
In such a haphazard manner, can Nepal attract foreign investment, it is doubtful.
Over 1,600 individuals from 55 countries have confirmed their participation in the third Nepal Investment Summit, starting today.
China is participating with 265 representatives and 143 representatives from India are attending the summit. Accordingly, 33 are from the US, 28 are from Japan, 14 are from the UK, 13 are from Bangladesh and the UAE respectively, and 10 are from Germany.
Nine participants each from South Korea, Australia, and Malaysia, eight from Pakistan, six from Singapore, and five each from Qatar and Ghana are participating in the summit.
Four each from Saudi Arabia, France, and Bahrain; three each from Switzerland, Finland, Russia, Austria, Sri Lanka, and Colombia are participating in the summit.
Two participants each from the Philippines, Kuwait, Canada, Mauritius, Belarus, and Belgium may attend the summit.
The government has prepared 150 projects for the showcase.
People’s News Monitoring Service.
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