Finance Minister Dr. Mahat Addressed High Level Investment Conference In London

Finance Minister Dr. Mahat Addressed High Level Investment Conference In London

Nov. 1, 2023, 9:37 a.m.

To mark the 100 of the friendship treaty signed between Nepal and the United Kingdom in 1923, a high-level investment conference was organized at Mansion House in the City of London.

Addressing the conference as the keynote speaker, Finance Minister Dr. Prakash Sharan Mahatt said that there is a need for large financial resources for the prosperity and economic transformation of Nepal.

He said that foreign investment is inevitable as internal resources are not enough.

Finance Minister Dr. Mahat also said that the Government of Nepal has enacted necessary laws, laws and amendments and institutional arrangements for an investment-friendly environment and this year's budget has initiated various reforms to facilitate investors.

He informed that the necessary legal infrastructure will be prepared to mobilize capital from the international financial market and expressed his belief that there will be a further increase in investment from the UK in the future.

Gyan Chandra Acharya, Nepali Ambassador to the UK, said that Nepal has huge potential for investment in renewable energy, information technology, education and tourism. He said that he wants to bring in investment with priority. Nepal is a neighboring country for electricity trade.

He said that said Nepal has signed a bilateral agreement with India and is preparing to export to Bangladesh as well saying hydropower will help not only Nepal but also the South Asian region to meet the goals related to climate change.

British Foreign Ministry Director Ben Mailer said that in the past few years, investments in various sectors of Nepal have been increasing through British International Investment and that the UK is helping to improve the environment for foreign investment. He expressed his commitment to continue helping to facilitate the process of upgrading Nepal from LDC to a developing country.

Birendra Sharma, Chairman of UK Nepal Parliamentary Group in British Parliament said that Nepal-Britain has historical relations.

Discussing the relationship, he said that there are many possibilities of investment in different areas of Nepal.

Bam Bahadur Mishra, Deputy Governor of Nepal Rastra Bank, assured the investors that Nepal Rastra Bank is committed to simplifying the process of foreign investment approval and repatriation of profits of foreign companies.

Amrit Lamsal, Joint Secretary of Investment Board Nepal, while giving a presentation about the opportunities for foreign investment in different areas of Nepal, said that the Investment Board is committed to facilitate foreign investors throughout the period of foreign investment approval and project implementation.

Similarly, the joint secretary of the Ministry of Energy, Water Resources and Irrigation, Sandeep Dev, highlighted the energy sector of Nepal, hydropower projects under implementation, India and China for power development and procurement referring to the agreements made and the upcoming plans of the Nepal government for hydropower development.

Nepal UK investment .JPG

Chandra Prasad Dhakal, President of Federation of Nepalese Chamber, Commerce and Industries, said that there is an investment friendly environment in Nepal.

He urged foreign investors to invest confidently on behalf of the private sector.

Dhakal said that there is a huge opportunity for investors in this sector as it requires a large amount of capital.

Ganesh Karki, President of Independent Energy Producers Association of Nepal, said urged British investors to come to invest on hydropower and other renewable energy in Nepal. He said that the role of Nepal government is positive in providing information about investment opportunities in the region. He invited investors to invest in Nepal.

Minister had a conversation with the Chairman of Hinduja Group of Industries GP Hinduja about bringing in investment in Nepal.

Finance Minister Dr. Prakasharan Mahat met with British Minister of State for Foreign Affairs. On the occasion of the meeting, various topics of Nepal-UK bilateral relations as well as special

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