Nepal invites investments from Indian businesses

Nepal invites investments from Indian businesses

Nepal has invited Indian enterprises to invest in the South Asian nation, positioning the country as an attractive investment destination, ahead of the third Nepal Investment Summit scheduled on April 28-29 in Kathmandu.

Nepal's Ambassador to India Shankar Prasad Sharma said Nepal is a naturally preferred investment destination for the Indian businesses and Nepal Investment Summit 2024 is an occasion where the investment and reinvestment plans will be discussed and big business ideas will be converted at the ground.

''The government of Nepal's unwavering commitment to simplifying business procedures and offering all possible support to businesses shall encourage the business houses already existing in Nepal and those that want to enter the Nepal market. We invite the Indian businesses to explore Nepal and be part of its industrial aspirations,'' the ambassador said at an Industry Outreach meet here on Thursday.

The event, jointly conducted by the Embassy of Nepal in India and PHDCCI India-Nepal Centre, aimed at facilitating discussions among government officials, business leaders, and representatives of global finance institutions regarding recent policy reforms and infrastructural advancements in Nepal, positioning the country as an attractive investment destination.

According to Manjeev Singh Puri, India's former ambassador to Nepal, ''Indian Foreign Direct Investment in Nepal has witnessed two distinct phases. The initial excitement and economic liberalization in the early 1990s attracted a surge of Indian companies. ''However, subsequent political instability and security challenges hindered new investments. Today, with Nepal's enhanced political stability, consistent policies, and improved connectivity through regional cooperation, there's a renewed sense of optimism for increased investment, aligning with India's 'neighbourhood first' policy and emphasis on regional connectivity and cooperation''.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)