Kathmandu, March 31 : The two-day ‘Investment Summit 2019’ has concluded on Saturday (March 30 ) with the signing of 15 memorandums of understanding (MoUs) among various investors. Similarly, it saw investment commitments made to 17 various projects.
Most of the MoUs, which pertain to joint venture agreements private companies and government agencies, range from drawing investments to mutual cooperation between the Investment Board of Nepal (IBN) and the Investment Board of South Korea, to verbal announcements on investments and development of hydropower projects.
A joint venture agreement between CG Corp Global and SkyPower Global for developing a 600-megawatt solar power in Nepal, an MoU between CG Corp Global and Sharaf Group headquartered in Dubai for the development of a multi-model logistics park in Nepal, and a deal between CG Infrastructure Pvt Ltd and the chief minister’s office of Province 2 for the development of a solar photo-voltaic energy project were some of major deals signed at the summit.
Though the government had showcased 77 projects at the summit to attract investment, it was able to draw applications for investment only in 17 projects.
A total of 735 delegates from 40 countries representing 300 companies, in addition to 600 domestic participants from over 100 companies, took part in the summit.
The Two-day summit was also characterized with a number of sideline events on themes of business climate, future of venture capital in Nepal, and women entrepreneurship, along with 36 bilateral meetings with the prime minister and other ministers, over 39 business to government meetings and over 30 business to business meetings.
