KATHMANDU, March 6 (Xinhua) -- Nepalese government has formed four different committees to address the concerns raised by foreign investors at the "Nepal
Investment Summit" so that pledged investment during the event could be
realized.
Nepal had got investment commitment of 13.52 billion US dollars from seven countries and the Himalayan country had received largest investment pledge from
China amounting to 8.2 billion U.S. dollars in the two-day event that concluded
on Friday.
Organizing a press meet on Monday, Industry Ministry said that one high-level committee led by Industry Minister Nabindra Raj Joshi and other three
sub-committees by a member of National Planning Commission, the main planning
body of the country, Industry Secretary and chief executive officer of
Investment Board Nepal (IBN) have been formed.
The High-level Committee on Foreign Investment headed by Industry Minister has 21-member team including Ministers for Commerce, Tourism and Physical
Infrastructure, secretaries of concerned ministries, governor of central bank
and representatives of the private sector.
Minister Joshi said at a press meet that these committees were formed to ensure materialization of investment commitments made by Nepalese and foreign
investors during summit. "These committees will start their works from Monday
itself," he said.
He also informed that the government would implement the one door policy for industry registration instantly enabling investors to present documents only in
one government agency which will then reach to other agencies automatically.
During the investment summit, Bangladeshi investors committed FDI of 2.4 billion dollars, second highest from among the seven nations. The investors from
Japan and the United Kingdom pledged over 1 billion. The Himalayan country also
received FDI pledge of 500 million from Sri Lanka, 317 million from India and
11.5 million commitments from Nepalese investors.
A total of 16 companies had signed letter of intent pledging investments in Nepal during the event. From China, six companies pledged investment. China
Machinery Engineering Corporation, China State Construction and Engineering Co,
CTCE Group, Sichuan Wanping Energy Science and Technology, Wuling Power
Corporation and Sichuan Boxing Country Wanping Mining are other Chinese
companies making investment commitments. Enditem
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