Print Edition - 2015-01-25 | MONEY
Energy, infra sectors to feature in summit
Jan 24, 2015-
They will also try to persuade the investors that Nepal government is strongly committed to providing a liberal policy regime to make Nepal an attractive investment destination. Nepal has the lowest tax rates in South Asia and low labour costs.
Energy and infrastructure sectors will feature prominently at the one-day Nepal Investment Summit 2015, which starts in the Malaysian capital on Monday.
Minister for Urban Development Narayan Khadka will relay Prime Minister Sushil Koirala’smessage to the investment forum stressing on Nepal’s immense possibilities for investment in infrastructure for economic growth and employment. Nepal will encourage foreign direct investment through private sector.
“There’s constant talk in Nepal of how political instability has stunted growth but we want to stress that growth contributes to political stability too,” said Lal Krishna KC, co-chair of the organising committee of the Summit. “So the idea is to convince foreign investors that we are good enough to get big infrastructure investments.”
About 200 delegates from Malaysia and the larger Asian region are expected to converge at the summit to meet face-to-face with Nepali officials and experts to learn about investment opportunities in the country. “Many will be keen to network with our government officials and experts for their possible venture in Nepal,” said KC, a civil engineer who heads the Kathmandu-based Full Bright Consultancy.
Vice-chairman of the National Planning Commission Govind Raj Pokharel; CEO of Investment Board Nepal, Radhesh Pant; General Manager of Tribhuvan International Airport Birendra Prasad Shrestha and Executive Director of Alternative Energy Promotion Centre Ram Prasad Dhitalare are among the speakers at the forum.
Nepal’s Ambassador to Malaysia Niranjan Man Singh Basnyat will discuss Nepal’s strategic location as a gateway to South Asia and East Asia.
Themed ‘Investing in the Emerging Nepal’, the forum will focus on energy (hydropower and alternative energy), transportation (road, rail, airport) and urban infrastructure.
“We have chosen Malaysia as the venue for the investment forum carefully,” said KC. “It’s useless to offer Western examples of development, as we can’t replicate their development model. A far wiser approach is to look for experience and resources from countries and economies which are similar to ours.”
According to Abdul Aziz, chairman of the Summit organising committee, Nepal is a country that is full of untapped resources and ample development potential. He expressed confidence that Nepal government is undertaking major policy initiatives to create business-friendly environment to expand its footprint in Nepal’s infrastructure business.
Nepal Investment Summit 2015 is supported by Nepal government.
Published: 25-01-2015 11:01