The private
sector in association with the government is organising Economic Summit on February 24-26 and Business Conclave on March 23-25 to make Nepal a lucrative
destination for investment.
As the
country is planning to graduate to developing country from the current status
of least developed countries (LDCs) by 2022, the summit and conclave will play important
role in reform policies and create an investment-friendly climate in the country,
according to the president of Federation of Nepalese Chambers of Commerce and
Industry (FNCCI) – the main organiser of the event – Suraj Vaidya.
The three-day
Economic Summit will see active participation of economists, successful
entrepreneurs and experts on agriculture, tourism and clean energy from the
USA, the UK, India, China, Japan, Malaysia, Singapore, Bangladesh, Sri Lanka,
Australia, the Philippines, Germany and Thailand.
"The
summit will play an instrumental role in creating a conducive environment for
investment in the country," Vaidya said, adding that the summit would also
play an important role in prioritising economic agenda that has been in the
back burner for long.
Asking the
government to walk the talk, Vaidya said that the investors obviously seek
returns and the government should bring pending Acts immediately. "Nobody
has taken the initiative to endorse the Acts – that are pending in the
Parliament – that could boost the private sector's confidence."
The USAID administrator
Rajiv Shah will address the closing ceremony of the summit while the president
designate of the Confederation of Indian
Industry (CII) – who is also the chairman and senior managing director of DCM Shriram Consolidated – Ajay S Shriram is scheduled to deliver his speech.
Industry (CII) – who is also the chairman and senior managing director of DCM Shriram Consolidated – Ajay S Shriram is scheduled to deliver his speech.
The
vice-chairman of Standard Chartered Bank Sir Thomas Harris.
The two
events were expected to draw a large number of foreign investors and varied
influential business personalities. Former Malaysian prime minister Mahathir
Mohamad is expected to address the Business Conclave.
Prime
Minister Sushil Koirala is scheduled to inaugurate Nepal Economic Summit, while
former Malaysian prime minister Mahathir is scheduled to be the keynote speaker
of the conclave.
The three-day Business
Conclave will bring together 250-300 foreign investors, who will discuss the
investment potential of 27 projects worth around Rs 300 billion in the three
major areas of focus. Participants will deliberate on this issue at the
National Economic Summit too. "We intend to sign at least five joint
ventures with foreign partners during the event," Vaidya said.
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