Kathmandu, April 19
The Investment Board Nepal (IBN) has extended the deadline for foreign investors to submit their applications for the projects that were showcased at the Nepal Investment Summit, which was held on March 29 and 30, by one month to May 20.
The 37th board meeting of IBN, chaired by Prime Minister KP Sharma Oli, decided to extend the deadline on the request of foreign investors, as per IBN sources.
“Investors are overwhelmingly taking queries from IBN on different projects that were showcased at the summit. As they require some more time to study the project, the board decided to extend the deadline for potential investors to submit their applications for the projects,” informed an official at IBN on condition of anonymity.
Similarly, the IBN board has also formed a high-level committee to evaluate and monitor different proposals and letters of intent submitted by investors for projects that were showcased at the investment summit. The committee is led by Sishir Dhungana, secretary at the Office of the Prime Minister and Council of Ministers and comprises joint secretaries from the Ministry of Physical Infrastructure and Transport, Ministry of Energy, Water Resources and Irrigation, Ministry of Industry, Commerce and Supplies and IBN.
At the meeting, Prime Minister Oli directed IBN to properly facilitate foreign investors who are keen to invest in the country.
IBN had showcased as many as 77 viable projects worth $31.93 billion (50 public and 27 private projects) at the Nepal Investment Summit.
Nijgadh International Airport, East-West Electric Railway, Kathmandu-Pokhara-Lumbini Railway, Metro Rail in Kathmandu, West Seti Hydropower Project, Sunkoshi Hydropower Project, Hetauda Smart City Project, Kathmandu Outer Ring Road Project, cable car projects at various tourism destinations, resorts and tourism projects and a chemical fertiliser plant were among the key projects showcased at the investment summit.
from The Himalayan Times http://bit.ly/2DzOruf
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