Kathmandu: The government of Nepal has announced to organize the Third Investment Summit on April 21-22 in Kathmandu. According to Finance Minister Dr Prakash Sharan Mahat, preparations are going on to hold the Summit in the given date. A very first meeting of the Summit’s steering committee coordinated by the Finance Minister took place on Sunday. Talking to media after the meeting, the Finance Minister said the Summit aims not to only attract foreign investment but also to encourage the mobilization of domestic investment and investment from non-resident Nepali community. “Nepali embassies abroad will be mobilized for facilitating the hosting of the Summit,” he said. “This time, we are planning to hold bilateral meetings with possible investors before the summit,” he said, informing that government aims to protect foreign investment by implementing the bilateral investment promotion and protection agreement (BIPPA). According to him, the government was for attracting national, NRNs and foreign investors.
Two committees have been formed for preparation of the Summit: an implementation committee led by the Chief Secretary and a technical committee led by the Secretary at the Ministry of Industry, Commerce, and Supplies. The Summit’s Secretariat will be located at the Office of the Investment Board. During the meeting, the Minister directed the concerned authorities to make preparations for identifying the ‘projects of showcase’ to be highlighted during the Summit.