Nepal Economic Summit on February 24-26

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.

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.