Nepal recently held an investment summit in Kathmandu with the aim of attracting foreign investment, particularly in the development of hydropower projects to increase electricity production for export to neighboring countries. The two-day summit saw the participation of various foreign investors, with Nepali officials emphasizing the need for investment in hydropower projects, tourism, and industry.
Nepal, known for its eight tallest mountain peaks and abundant rivers, holds significant hydropower potential. Despite this, only a few projects have been implemented in the country. Prime Minister Pushpa Kamal Dahal highlighted that while Nepal has harnessed 3,200 megawatts of hydropower, there are plans for large-scale projects totaling 5,568 megawatts currently under construction or in the pipeline.
Prime Minister Dahal emphasized the vast opportunities for investment in Nepal's hydropower sector, pointing out the existing and planned cross-border transmission lines with India and China that facilitate energy exchange in the region. Nepal has also entered into agreements with China, India, and Bangladesh for power trade and cooperation.
Aside from hydropower, Nepal is also seeking investment in its tourism sector, which has been severely impacted by the COVID-19 pandemic. Finance Minister Barsha Man Pun highlighted that the summit served as a platform for policymakers, investors, experts, and stakeholders to collaborate on joint ventures in industries and infrastructure development.
The main objective of the summit is to position Nepal as an emerging investment destination for the private sector. The country aims to showcase recent reforms that have improved the investment climate, enhanced regulatory frameworks, and provided support for both foreign and domestic investments.
