Kathmandu, March 3
Minister for Energy Janardan Sharma Prabhakar has called for increased investment in Nepal. Sharma, addressing the Investment Summit underway in Kathmandu, appealed investors to invest in Nepal and maximise their returns.
After the promulgation of the Constitution, there’s an investment-friendly environment in Nepal, he said addressing investors from Nepal and abroad.
He said: On top of it, developments in the energy sector have created a conducive environment for investors. Whether it’s in hydel or any other sector, Nepal is a lucrative investment destination. In this context, I appeal you all to invest in Nepal.
As of now, Nepal is a least developed country, he said, adding: But progress in the energy sector will turn it into a developed country.
According to Sharma, projects with installed capacity of 3,900 MW are in the process of generating power, whereas the government is preparing to issue power generation licences to projects with total capacity of 5,400 MW. The government has projects with total capacity of 8,400 MW in the pipeline, he said.
At the same time, Sharma said, the government is collecting money from the public for power generation, adding that power producers need not worry as power generated in Nepal will not go waste.
Strides in power generation will make Nepal an indusrial hub, Sharma pointed, adding: Every sector is becoming vibrant. Surplus energy can be sold to countries like China, India and Bangladesh.
He said his government is working to remove procedural hassles in the generation of hydropower.
On the occasion, Minister for Physical Infrastructure and Transport, Ramesh Lekhak, said the government is striving to attract private sector for infrastructure development.
We are preparing to bring in the private sector for development of roads, railways and ropeways, he said, appealing domestic and foreign investors to take part in this endeavour.
He said commitments from political parties and the new Constitution have provided impetus to investors. Lekhak informed that drafting of the cable car construction guidelines is in final stage.
