EU-Nepal Business Forum Begins

EU-Nepal Business Forum Begins

May 15, 2024, 3:51 p.m.

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The two-day EU-Nepal Business Forum begins today! The forum brings together European investors & the Nepali private sector to explore Nepal's potential for trade, investment and business. Trade and investments are key components of The European Union's Global Gateway strategy.

Prime Minister Pushpa Kamal Dahal inaugurated the EU-Nepal Business Forum 2024 on Wednesday stressing that green economy technology and the green economy would be at the centre of Nepal’s future prosperity.

He said the government was reforming the legal landscape to ensure the ease of doing business and attract private investment. The Prime Minister said the 50 years of EU-Nepal relationship, also marks the beginning of a new chapter for shared growth and prosperity.

The inauguration session was attended by Hon. Damodar Bhandari, Minister, Ministry of Industry, Commerce and Supplies, Myriam Ferran, Deputy Director General, International Partnerships, European Commission, ambassadors from eight EU Member States, and the Global Director of the European Investment Bank (EIB).

Addressing the opening session, the EU Deputy Director General of International Partnerships, said the European Union’s Global offer for sustainable investment, Global Gateway, was already supporting the renewable energy and would further support investments in priority sectors for Nepal.

The business forum brought together over 300 participants, including 50 panellists who discused different sectors including renewable energy, information and communication technologies, high end tourism and agriculture.

The EU Ambassador to Nepal, H.E. Veronique Lorenzo, mentioned the achievements in Nepal such as the 64% growth in IT service exports in 2022 to Euro 500 million and the arrival of over a million tourists in 2023. These achievements are al’ai opportunities for European businesses.

Ambassador Lorenzo added that Nepal had approved about 400 projects of around NPR 47 billion since the last business forum, with notable contributions from small firms.

The first EU-Nepal Business Forum was organised in 2023

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Visiting EU_Psrtnerships Deputy Director General, Myriam Ferran will be touring the Forum and holding significant trade, investment and business climate discussions with Nepali institutions like FNCCI, CNI And IBN.

Similar discussions will also be held with investment fund Dolma Impact and NMB Bank.

Such meetings are important for Nepal's economy, private sector and investment climate, especially in the wake of the 2024 Investment Summit, which also saw participation from EU actors.

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