CNI President highlights Nepal’s conducive investment climate at Investment Summit

President of the Confederation of Nepalese Industries (CNI), Rajesh Kumar Agrawal, said that a conducive environment is being built in Nepal for investors, with the government moving forward in confidence with the private sector.

Speaking at the inaugural session of the Third Investment Summit today, he urged foreign investors to consider the ample opportunities available in Nepal.

Highlighting the summit as a pivotal moment in Nepal’s journey toward prosperity and growth, President Agrawal noted, “Nepal, with its abundant natural resources, cultural diversity, and strategic location, presents a wealth of opportunities for investors seeking to make a positive impact while achieving sustainable returns.”

He pointed out that Nepal offers a fertile ground for innovation and entrepreneurship across various sectors including tourism, technology, infrastructure development, renewable energy, education, and healthcare. He warmly welcomed investors from around the world to explore the myriad investment prospects that Nepal has to offer.

President Agrawal called on investors to capitalize on the momentum generated by the summit and to translate it into tangible investments that drive job creation, infrastructure development, and socio-economic progress. He urged them to explore the diverse array of opportunities across various sectors in Nepal.

“Nepal’s unparalleled natural beauty, including the majestic Himalayan range and diverse cultural heritage, makes it a prime destination for adventure seekers, nature enthusiasts, and cultural tourists. With a strategic focus on sustainable tourism practices, there is significant room for investment in eco-friendly accommodations, adventure tourism services, and infrastructure development. As the country continues to invest in improving connectivity and promoting its unique attractions, the tourism industry is poised for substantial growth, providing lucrative opportunities for investors seeking to capitalize on Nepal’s burgeoning tourism market,” he added.

“Nepal in the realm of IT, has been making strides to position itself as an emerging IT hub in the South Asian region. Nepal’s exports of IT services experienced an extraordinary surge, reaching a remarkable figure of USD515.4 million in the year 2022. This significant achievement catapulted IT services to the forefront, emerging as the country’s top exportable product. It has opened doors to new opportunities, fueled by a rich pool of talent and a conducive business environment.”

As he said, hydropower represents a crucial sector for investment in Nepal, given its abundant water resources and the potential to generate clean energy and investments in the development of hydropower infrastructure not only contribute to Nepal’s energy security but also offer export opportunities to neighboring countries.

Likewise, Nepal holds untapped potential for investors across diverse sectors, including education, healthcare, tea, real estate, and textiles. In the education sector, there is a unique opportunity to establish Nepal as an education hub, leveraging its cultural richness and serene environment. Investing in world-class educational institutions, research facilities, and vocational training centers can attract both domestic and international students. By developing a robust educational ecosystem, investors can contribute to shaping Nepal as a knowledge destination, fostering intellectual growth and socio-economic development.

President Agrawal pointed out that healthcare presents a significant investment avenue, with the potential to establish Nepal as a medical hub. Investing in state-of-the-art medical facilities, specialized treatment centers, and research institutions can not only cater to the local population but also attract medical tourists from neighboring countries, he added.

The country’s serene environment can offer a conducive setting for recovery and wellness, making it an appealing destination for medical tourism.

“I am glad to share you all that the government has responded to the requests of private sectors such as CNI by amending various laws and regulations. It brings me great satisfaction to recognize and commend the proactive measures taken by the government through recent amendments in a multitude of laws and regulations. These actions underscore the government’s unwavering commitment to nurturing a conducive investment climate within the country. The amendments, enacted through ordinances, signify a forward-looking approach aimed at streamlining processes and enhancing the ease of doing business.”