13.52 bn US dollar pledged during Nepal Investment Summit - 2017A total of 13.52 billion US dollar has been pledged as foreign investment during the Nepal Investment Summit-2017 held in the Capital on March 2-3.
A total of 13.52 billion US dollar has been pledged as foreign investment during the Nepal Investment Summit-2017 held in the Capital on March 2-3.
China committed highest investment in Nepal with its investment pledge totaling $8.3 billion. Bangladesh has committed to invest $2.4 billion, Japan and UK each pledged $1 billion, Sri Lanka $500 million and India $317 million.
Nepali businessmen have also committed to invest $11.5 million during the Summit.
During the two-day-long event, separate papers were presented on energy, infrastructure, tourism, information technology, financial sector, mines and minerals, agriculture and forest products, and so on.
Sixteen different companies have announced their commitment to invest in Nepal during the conference jointly organised by Ministry of Industry and Investment Board Nepal (IBN).
IBN Chief Executive Officer Maha Prasad Adhikari said that government would work towards creating a conducive environment and simplify the process for foreign investors.
The investment summit that took place in the country for the second time after it was first held in 1990s saw a huge participation of more than one thousand domestic and foreign companies.
“The summit has sent a message that Nepal is free from political turbulences and has investment-friendly environment,” said Industry Minister Nabindra Raj Joshi. He raised his hopes high that Nepali youths do not have to leave the country seeking foreign employment in next 10 years.
Investments pledged by 7 countries
China: $8.3 billion
Bangladesh: $2.4 billion
Japan: $1 billion
UK: $1 billion
Sri Lanka: $500 million
India: $317 million
Nepal: $11.5 million