A high-level team of investors is arriving from the United Kingdom to attend the Nepal Investment Summit 2024.
British Ambassador to Nepal, Rob Fenn, told Finance Minister Barshaman Pun that the investors are willing to attend the upcoming summit during a meeting held in Singha Durbar on Thursday morning.
“A high-level team of investors from the UK is arriving to attend the investment summit,” We are actively working on making the summit successful.”
Appreciating the recent policy reforms introduced by the Nepal government to attract foreign investment, Ambassador Fenn said he was coordinating with the mission chiefs of other countries based in Kathamdu in order to make the investment summit a success.
During the meeting Fenn asked Finance Minister Pun to clarify on the double taxation policy adopted by the Nepal government.
The UK government remains committed to its programs in education, healthcare, and infrastructure development, with a focus on empowering marginalized communities, said Fenn.
The ambassador also appreciated the Nepal government for its continuous efforts to stay off the Financial Action Task Force’s gray list.
Recognizing Britain as a longstanding friend and vital international partner, Finance Minister expressed gratitude for its ongoing assistance to Nepal.
In response to the query by Fenn regarding the double taxation policy, Minister Pun assured that the Nepal government would address the questions raised by the foreign investors and development partners including the double taxation system.
He further shared that over a dozen laws have been amended in order to create the investment-friendly environment in Nepal.
Similarly, the ambassador said the financial aid announced by Minister of State for Development and Africa Andrew Mitchel during the Centenary of the Nepal-UK Friendship Treaty of 1923 held recently, is in the pipeline.
Mitchel, during the meeting with Prime Minister Pushpa Kamal Dahal ‘Prachanda’ on February 20, had pledged Rs 66 billion 600 million in grant assistance to Nepal in the next six years.
This grant amount will be utilized in the fight against climate change, mobilization of international finance for development, economic transformations, good governance and inclusiveness by 2030.
Both the countries have expected that 13,500 jobs will be created and 2 million women and children will have access to quality education and health through this project.
The Nepal Investment Summit is set to be held on April 28-29, 2024 in Kathmandu.
