Investment Board of Nepal (IBN) has prepared a project bank, including some 30 to 35 mega projects, to showcase at the Nepal Investment Summit to be held in Kathmandu on March 2-3.With an ambitious target to attract over $1 billion of foreign direct investment (FDI) from the summit, the board, in association with the Ministry of Industry (MoI), has included Chemical Fertilizer Plant, Kathmandu-Pokhara Railway, Kathmandu-Kulekhani-Hetauda Tunnel Highway, 650-MW Tamakoshi III Hydropower Project, Second International Airport, East-West Electric Railway Project, East-West Electricity Railway Link to India Project, Kathmandu Valley Metro Project and Kathmandu-Pokhara Railway Project in the project bank.”We are expecting at least 300 international visitors, including foreign diplomatic missions in Nepal, foreign investors, potential foreign and domestic Investors, national and foreign media, Non-Resident Nepalis (NRNs), development partners, experts, private sector organization representatives and government representatives,” said Minister for Industry Nabindra Raj Joshi.Apart from over $1 billion FDI commitment, at least 20 large-scale investors are expected to apply for at least three Intents of Investment, Joshi said, adding that the ministry was also planning to sign Bilateral Investment Promotion and Protection Agreement (BIPPA) with at least one country. “The summit is also showcasing transport, infrastructure, manufacturing, energy, ICT and mining sectors as potential investment avenues in Nepal,” he added.
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