In a bid to attract investments, Nepal’s Jumla district is hosting the ‘Investment Promotion Summit.
The move is mainly coming as a solution to the issue of tax collection from beyond jurisdictions, by local level governments.
Speaking at a press meet in Kathmandu, Chandannath Municipality Mayor Kantika Sejuwal informed that she is visiting the capital to invite important governing bodies including federal ministers, high-ranking officials, industrialists, business chambers’ leaders and development partners to the summit.
The event is scheduled to be held in Karnali Technical School in Jumla’s Chandannath Municipality on September 14, 2018.
Sejuwal has invited Nepal Finance Minister Yubaraj Khatiwada as ‘chief guest’. According to Sejuwal, Khatiwada will deliver the keynote speech for the summit.
Following this, there will be a thematic presentation on far-west Nepal’s agriculture, non-timber forests products and tourism investment potential.
Jumla’s Untapped Potential:
Chandannath Municipality has identified some priority projects that have investment potential which include apple orchards, farming, herbs and herbal processing units, poultry, cold storage facilities, hotel & hospitality business and technical education institutes.
Sejuwal has expressed commitment to address the tax crisis by providing tax incentive according to the jurisdiction of the municipality and adequate protection for the investment.
Additionally, the Municipality Development Masterplan has been created to attract investment and provide adequate protection to them.
Speaking about Jumla’s huge potential Sejuwal says that the district has potential for high-value organic agro products, herbs and other non-timber forests products that have provide market advantage for Nepal exports.
“Jumla district has a lot of unexplored potential and investors have not been attracted so far due to its geological remoteness, however, there are plans to open the checkpost from Yari of Humla district to connect this region with China,” she said.
“We are looking forward to investors carrying out baseline surveys to invest in Jumla during the investment summit,” said Sejuwal, adding further.
Other then Khatiwada, Karnali’s ministers and lawmakers are also called to address the summit. Among the many invited dignitaries, National Planning Commission Vice Chairman Prof. Pushpa Raj Kandel and member Min Bahadur Shahi, various business chambers and industries representatives, bankers, diplomats and development partners representatives have confirmed their attendance to the event.