April 18, 2024, Thursday
Nepal 1:37:26 pm

WB organizing High-Level Conference in Nepal in June

The Nepal Weekly
February 20, 2024

International Development Association (IDA) which is a part of the World Bank’s is organising a high-level conference in Nepal. The conference will take place in the third week of June. This is the first biggest conference planned to hold in Nepal so far.

Ministry of Finance source mention that representatives of 92 countries will attend the conference. The World Bank has already agreed in principle to host the conference in Nepal.

Minister Dr Prakash SharanMahat, in context, says that the Government of Nepal had written a letter to the World Bank seeking its support to hold the conference. After receiving Nepal’s letter, the World Bank expressed its agreement in principle. Finance Minister Mahat said that a high-level conference of this kind has not been organized in Nepal so far.

“This will be the first such gathering,” he said at a press conference held to review the budget, adding, “Representatives of 92 countries from around the world, including the president of the World Bank, will come to Nepal.”

This conference will pave the way of foreign investment in Nepal. Currently, projects worth more than Rs 200 billion are being implemented in Nepal with the support of the World Bank, Finance Minister Mahat opines.

Officials of the Ministry of Finance are currently busy with homework as the Third Investment Summit will be held ahead of the World Bank’s conference.

Investors from China, Bangladesh, India, Japan, UK, Sri Lanka, Malaysia and other countries are being invited to the Investment Summit on April 28 and 29. Finance Ministry sources said that the government is preparing to send a formal letter to the investors of those countries.

In the half-yearly review programme of the budget, Minister Mahat claimed that if the investment conference is successful, the investment in multinational companies operating in Nepal will increase. In the meeting of the Investment Summit Steering Committee held last Thursday, Minister Mahat said that international investors are expressing interest in the summit.

“There is an unprecedented opportunity for us to attract investment. The government will leave no stone unturned in legal and policy reforms to attract foreign investors as well as Nepali investors and non-resident Nepalis,” the finance minister’s secretariat said.

The government has already started the process of amending laws related to investment, targeting the investment summit and the World Bank conference.

According to government officials, the work of amending some laws and regulations has been carried out with the aim of removing the legal and policy obstacles for investment.

Amending those laws will also address the problems seen in delay in implementation of projects.

International Development Association (IDA) which is a part of the World Bank’s is organising a high-level conference in Nepal. The conference will take place in the third week of June. This is the first biggest conference planned to hold in Nepal so far.

Ministry of Finance source mention that representatives of 92 countries will attend the conference. The World Bank has already agreed in principle to host the conference in Nepal.

Minister Dr Prakash SharanMahat, in context, says that the Government of Nepal had written a letter to the World Bank seeking its support to hold the conference. After receiving Nepal’s letter, the World Bank expressed its agreement in principle. Finance Minister Mahat said that a high-level conference of this kind has not been organized in Nepal so far.

“This will be the first such gathering,” he said at a press conference held to review the budget, adding, “Representatives of 92 countries from around the world, including the president of the World Bank, will come to Nepal.”

This conference will pave the way of foreign investment in Nepal. Currently, projects worth more than Rs 200 billion are being implemented in Nepal with the support of the World Bank, Finance Minister Mahat opines.

Officials of the Ministry of Finance are currently busy with homework as the Third Investment Summit will be held ahead of the World Bank’s conference.

Investors from China, Bangladesh, India, Japan, UK, Sri Lanka, Malaysia and other countries are being invited to the Investment Summit on April 28 and 29. Finance Ministry sources said that the government is preparing to send a formal letter to the investors of those countries.

In the half-yearly review programme of the budget, Minister Mahat claimed that if the investment conference is successful, the investment in multinational companies operating in Nepal will increase. In the meeting of the Investment Summit Steering Committee held last Thursday, Minister Mahat said that international investors are expressing interest in the summit.

“There is an unprecedented opportunity for us to attract investment. The government will leave no stone unturned in legal and policy reforms to attract foreign investors as well as Nepali investors and non-resident Nepalis,” the finance minister’s secretariat said.

The government has already started the process of amending laws related to investment, targeting the investment summit and the World Bank conference.

According to government officials, the work of amending some laws and regulations has been carried out with the aim of removing the legal and policy obstacles for investment.

Amending those laws will also address the problems seen in delay in implementation of projects.