Investment Summit: Investors from 53 countries have confirmed their participation

The government is expediting preparations for the 2024 Nepal Investment Summit, which kicks off in Kathmandu on April 28. 

The two-day summit is being organized to attract both domestic and foreign investments and serves as a continuation of two previous summits held in 2017 and 2019.

The government has sent invitations to more than 1,900 national and international investors to participate in the summit, according to Pradyumna Prasad Upadhyay, spokesperson for the Office of the Investment Board Nepal (OIBN). So far, 1,029 individuals from 53 countries, including Nepal, have confirmed their participation, he added.

The highest number of confirmed participants are from Nepal (385), followed by China (265) and India (243), according to OIBN data. Most foreign representatives include officials stationed at diplomatic missions in Nepal, representatives of donor organizations, and investors already involved in projects in Nepal.

Although the government sent invitations to billionaires like India’s Adani and Ambani, as well as Chinese companies Alibaba and Tesla, none have confirmed their participation, Upadhyaya said.

However, he said OIBN believes engaging with foreign companies already investing in Nepal and learning about their relationship could inspire others.

In the first Nepal Investment Summit held in 2017, Nepal received investment commitments of around Rs 1.4trn. Chinese investors committed to invest more than Rs 800bn, the highest amount, while Bangladeshi investors expressed confidence in investing over Rs 200bn. Investors from India, Japan, the UK, Sri Lanka, Malaysia, and other countries also expressed interest in investing in Nepal. The summit saw around 250 institutional and individual investors from two dozen countries participate.

The 2nd Nepal Investment Summit in 2019 was organized on a grander scale, showcasing 77 projects worth Rs 3.2trn, including 50 government and 27 private sector projects. Of these, 30 projects received investment proposals worth Rs 2.3trn, and 11 additional non-showcased projects received proposals worth Rs 80bn.

The summit saw 700 representatives from 300 companies and 40 countries participate, along with 600 individuals from 100 local companies. It featured four plenary sessions, six parallel sessions, four sideline sessions, 36 bilateral meetings, 39 B2G meetings, and 30 B2B meetings.

Sixteen investment-related agreements were signed during the two-day summit. However, the Board has faced criticism for a lack of proactiveness in implementing the agreements after the summits.