Nepal Foreign Affairs (KATHMANDU, 3 March) – A total of 13.52 billion US dollar has been committed by foreign and domestic investors including China and India during Nepal Investment Summit- 2017 held in Kathmandu on March 2-3.
China has pledged the highest investment totalling $8.3 billion amidst the foreign investors while India committed the lowest – $ 317 million.
Indian Finance Minister Arun Jaitley had participated in the summit as a key note speaker, where he had said that India was committed to invest in Nepal’s hydropower, transmission lines and railway infrastructures.
India’s pledge amount is lower than Bangladesh and Srilanka. Bangladesh has committed to invest $2.4 billion, UK and Japan each pledged $ i1 billion and Sri Lanka committed $ 500 million. Nepali businessmen have also promised to invest $ 11.5 million during the summit. This is the second Investment Summit in Nepal, the first was took place in 1990s.
Nepali Industry Minister Nabindra Raj Joshi said ”The summit gave a message that Nepal is free from political turbulences and has investment -friendly environment.”
Sixteen other companies have expressed their commitment to invest in Nepal during the summit, which was jointly organized by Ministry of Industry and Investment Board Nepal (IBN) .
Maha Prasad Adhikary, IBN Chief Executive Officer said the summit was huge success in attracting foreign investment in Nepal assuring that the investment-friendly environment would be guaranteed.