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]]>Finance Minister Yubaraj Khatiwada Delivers Welcome Address
The much-discussed Nepal Investment Summit unfolded on March 29, 2019 with a welcome note from Nepal Minister for Finance and Summit convener Yuba Raj Khatiwada at 9:00 AM.
Prime Minister KP Sharma Oli inaugurated the summit being held at Hotel Sialtee in Kathmandu. Speaking on the occasion, the Prime Minister said that the development agenda and foreign investment enjoy consensus in Nepal.
All political forces in the Nepal parliament stand united to welcome and support foreign investment in the country.
Prime Minister Oli’s Key Note Speech
According to the Investment Board Nepal (IBN), Nepal has put up 77 projects for foreign investment including 50 government projects and 22 on behalf of the private sector.
As per the Finance Ministry, the government is expecting an overall investment of up to USD 30 billion based on the interest show by various global investors.
Following are some of the key projects being showcased at the Nepal Investment 2019:
- East-West Electronic Railway
- Hetauda Smart City Project
- Kathmandu-Pokhara-Lumbini Railway
- Metro Rail in Kathmandu
- Sunkoshi Hydropower Project
- West Seti Hydropower
Other projects include:
- Cable car projects at various tourism destinations
- Kathmandu Outer Ring Road project
- Resorts and tourism projects
Government Expectations from the Investment Summit
Experts opine that more investment is expected from the summit as majority of the featured projects were chosen after preliminary feasibility studies and amending various laws paving way for more FDI.
The Finance Ministry is expecting at least 12 memorandums of understanding (MoUs) will be signed by multiple investors for different projects during the summit.
Over 600 foreign investors from 40 countries (including high-level dignitaries) are taking part in the summit.
China tops the list of Nepal Investment Summit 2019 visitors with a record of 265 investors and delegates.
Likewise, the summit will witness the participation 120 Indian, 21 Japanese and 19 Myanmar visitors. Representatives from Canada, Germany, USA, UK and South Korea are also participating in the summit.
Among the development partners and multinational companies, Myanmar Union Minister for Investment and Foreign Economic Relations U Thaung Tun, World Bank Vice President Hartwig Schafer, ADB Vice President Shixin Chen Multilateral Investment Guarantee Agency (MIGA) Chief Keiko Honda, and Economics and Private Sector Development at the International Finance Corporation (IFC) Vice President Hans Peter Lankes have come to attend the event in Kathmandu.
According to summit organizers, 10 sessions are scheduled for discussions on different issues of investments in Nepal. Muthoot Group Chairman M.G. George Muthoot and Meinhardt Group Executive Chairman Shahzad Nasim are among the keynote speakers at the event.
Unified Security for Nepal Investment Summit
In view of the upcoming Nepal Investment Summit 2019, the government instituted the unified security plan in Kathmandu Valley.
According to the Ministry of Home Affairs, the government adopted a special security system to maintain law and order during the two-day event. This includes the Nepal Police, Armed Police Force and National Investigation Department.
Moreover, security personnel dressed in civil dress and a mobile patrolling team have also been stationed to enhance the security, averting any unlawful activity.
Ministry Spokesperson Ram Krishna Subedi said that over 7,000 security personnel from all three security forces and traffic police were deployed in various key-summit related locations including the airport, Hotel Sialtee and guest-residing hotels.
Nepal Police Spokesperson Uttam Raj shared that as many as 4,200 Nepali Police personnel alone have been deployed for security of persons attending the investment summit
Background
The two-day conference is aimed at promoting Nepal as a promising investment destination.
“The main objective of the event is to project Nepal as a favorable investment destination by unveiling potential opportunities for investment in sectors such as Energy, Tourism, Industry, Transport Infrastructure, Information and Communication Technology and Agriculture,” the government said in an official release.
As per the release, the government is planning to utilize this forum to announce a range of policy reforms and incentives to attract investors.
The Summit will provide a platform for global investors to deepen their understanding of the investment environment and opportunities in Nepal, adds the release.
Salient Features of Nepal Investment Summit 2019
1) Topics To be Discussed:
- Investment Opportunities in Nepal
This session includes a detailed presentation on improved business climate in Nepal with a focus on recent policy reforms undertaken by the government and showcasing of potential projects for studies and development. - Investing in Nepal: Experience Sharing
In this session, existing investors (foreign/NRN/Nepali) and other relevant development partners will share their experience of working in the Nepali market.
2) Focus Areas:
- Sharing policy reforms undertaken by the Government of Nepal
- Sharing potential projects both for studies as well as for the development
- Receiving first-hand knowledge and feedback on policy reforms from key business players in/entering Nepal
- Providing a networking platform for business leaders
- Encouraging public-private partnership
3) Allied Activities:
- Sector specific information center
- B2B, B2G meetings
- Project site visits on request
- Mountain flights and other tour packages on a direct payment basis
4) Target Sectors:
- Energy
- Information and Communication Technology
- Tourism
- Industry
- Transport Infrastructure
- Agriculture
5) Target Audience:
- Investors
- Development Partners
- Diplomatic Missions
- Government Representatives
- National and International Media
- Experts
- Other stakeholders
At a Glance: Invest in Nepal
Overall, the Summit is expecting around 500 participants, including 257 foreign delegates from 21 participating countries and singing of 13.7 billion worth Letter of Intents.
Also Read
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]]>The post Nepali Investors Allege Govt. Failure in Fin Market, Demand Upliftment appeared first on Nepali Sansar.
]]>The investors have been on a hunger strike in front of the Nepal Stock Exchange (NSE) demanding the resignation of the Finance Minister Yuba Raj Khatiwada and Nepal Rastra Bank (NRB) Director Chiranjeebi Nepal.
Chairman of the Securities Board of Nepal Rewat Bahadur Karki, NSE Chair Laxman Neupane and Insurance Board Chairman Chiranjeebi Chapagain were among other officials targeted by the investors.
“The promises which the government authorities have been making for the improvement and upliftment of investors for last three-four years have not been fulfilled. We demanded swift implementation of measures to protect the interests of investors, but the government did not pay any attention. As a result, we have started the hunger strike to pressurize the government,” says Koirala, a senior economic journalist.
Koirala alleged that the Finance Ministry failed to bring in reforms in the national stock market situation.
“Finance Minister Yubaraj Khatiwada and the head of other regulatory bodies do not want to expand and improve the financial market because of which, we are now facing forced to go on a hunger strike demanding their resignations,” Koirala adds.
“The veteran economist is himself the Finance Minister. He is well aware of the issues but is acting indifferently. He has been ignoring 1.7 million share investors,” says Sushma Dhungana, one of the investors in the national stock market.
The investors published their 14-point demands calling reformation in the capital market, protection of investors and creating an investment-friendly environment in the country.
The group stands committed to continuing their protests until their demands are accepted.
What does the government have to respond on this? Let’s see!
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]]>Nepal has drawn a wide global attention in the recent times and as a result, the global business community has also been expressing its willingness to invest in Nepal, every now and then.
India for infrastructure development, South Korea for smart city development, US in energy and education sectors, likewise, many other countries have come forward to invest in Nepal in the recent times.
In the recent past, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Austrian Federal Economic Chamber (AFEC) have also signed a new agreement to boost business and trade ties between the two countries.
Following the trend, now the Japanese business community and Non-Resident Association (NRNA) Korea have also expressed their willingness to invest in Nepal.
“Foreigners would benefit by investing in Nepal, as the country is a gateway to reach out to markets of India, China and other South Asian countries,” says the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Bhawani Rana.
Nepal’s FDI Initiatives Are Encouraging: Japan
An official statement in this regard was made by the Japan Chamber of Commerce and Industry, Singapore (JCCIS) President Tochiori Takuhiro.
A 12-member JCCIS team, including eight Japanese companies that expanded their base to Singapore, has come to Nepal on November 06, 2017, to assess investment climate in the country and discuss cooperation in various sectors.
The companies in the delegation belong to various sectors such as textiles, manufacturing, tourism, banking, logistics, oil and gas.
“We are here because we see an opportunity in this country as it has young workforce and other potential to grow. Lately, the government has also started taking serious initiatives to attract Foreign Direct Investment (FDI), which is encouraging,” says Tochiori Takuhiro.
Tochiori was speaking at an interaction program organised by FNCCI on November 07, 2017.
On the occasion, Tochiori further informed that the team would meet domestic entrepreneurs of various sectors, over the next three days, to finalize the areas of cooperation.
NRNA Korea Keen on Investing
In a recently-held meeting with the Nepali trade delegation of 14 Nepal-Korea Chamber of Commerce and Industry (NKCCI) members and 9 hoteliers, NRNA Korea has also expressed its willingness to invest in Nepal.
The Hotel Association Nepal (HAN) informed this in an official statement on November 07, 2017.
During the B2B meeting organized by Korea Trade-Investment Promotion Agency (KOTRA), officials of NRNA Korea expressed commitment to work for bilateral trade and tourism promotion,” said HAN.
According to HAN, the delegation participated in an event called G Fair Korea and has also organized a trade promotion program titled- ‘Nepal: Your Destination for Tourism and Trade’.
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]]>U.S. Government’s Millennium Challenge Corporation (MCC) has announced plans for investing $500 million in Nepal for increasing the regional energy connectivity in South Asia and enhancing the business opportunities between the countries in the region.
The investment is also aimed at achieving an improvement in the power sector governance and the road maintenance regime in Nepal. It would finance the construction of high voltage power lines across a distance of 300 kilometers covering approximately one-third of Nepal’s length, three large substations and the Nepali portion of the second high voltage cross-border transmission line.
According to Fatema Z. Sumar, MCC Regional Deputy Vice President for Europe, APAC, and Latin America, the total investment in the project is likely to be $630 million with a contribution of $130 million from the Nepal government.
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