Prime Minister Pushpa Kamal Dahal on Wednesday inaugurated the EU-Nepal Business Forum 2024 stressing that 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 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 renewable energy and would further support investments in priority sectors for Nepal.

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

The EU Ambassador to Nepal, Veronique Lorenzo, mentioned Nepal's achievements, such as the 64 percent growth in IT service exports in 2022 to 500 million euros and the arrival of over a million tourists in 2023. These achievements are also opportunities for European businesses.

Ambassador Lorenzo added that Nepal had approved about 400 projects of around Rs47 billion since the last business forum, with notable contributions from small firms. The first EU-Nepal Business Forum was organised in 2023.