Investment opportunities in Nepal highlighted in New York

KATHMANDU NOVEMBER 1 : The Consulate General of Nepal in New York, in collaboration with the Office of Investment Board Nepal (IBN), organised a business interaction programme under the theme of "Investment Opportunities in Nepal'. The event held on October 29 was aimed to share information with prospective investors in New York on business opportunities in Nepal and promote business interaction between Nepal and the United States.

Bishnu Gautam, Acting Consul General of Nepal in New York, in his opening remarks, extended a warm welcome to the IBN delegation and the business invitees to the programme. Sharing about the Consulate's efforts and collaborative support from the business communities to enhance business connectivity between Nepal and New York and beyond, he appreciated the role played by the business community in such efforts, the Consulate General said in a press statement. IBN chief executive officer Sushil Bhatta who was the chief guest of the programme informed the participants on liberal and open foreign direct investment policies of the government of Nepal, business climate, legal and institutional framework, and existing facilities offered to foreign investors.

He also spoke on the growing US investment in Nepal, business confidence, and major and profitable areas of investment in Nepal. Sharing about Nepal's recent decision to lower the FDI threshold to make 20 million rupees, CEO Bhatta highlighted on some major mega projects listed in the IBN project bank and other engineering sectors that support infrastructure and sustainable development. He invited the business houses and the NRN community to confidently invest in Nepal.

He assured IBN's readiness to facilitate investment in projects that cost above around US $ 50 million or energy projects of 200 MW or above and the Department of Industry to facilitate in other identified projects. In the presentation made by the IBN, the invitees were updated on the opportunities that exist in major infrastructure investment projects in Nepal for public and private companies including energy, IT, tourism, hospitality, agriculture, infrastructure, education, health, medical tourism, filing, innovation, start-up among others. The attendants were also briefed about the legal framework, the procedure of investment, and the steps involved in approving foreign investment projects in Nepal.

On behalf of the invitees, the Presidents and CEOs of Source Atlantic, ReoComm Group Holdings and Our Collective also made their presentations on their business expertise, investment interest, and possible projects in Nepal. President and CEO of the Greater New York Chamber of Commerce, representatives from Dunbarton Investments, Karaden Finance, President of the NRNA-US New York Chapter, Vice President of US- Nepal Chamber of Commerce, Chhetry & Associates, Founder of the Great Nepali Diaspora, and other Nepali diaspora professionals and business entrepreneurs shared their views and keen interest to collaborate.

In response, Bhatta assured them of full cooperation and coordination as the investors plan investments in Nepal or take a delegation to Nepal.

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