Nepal's Investment Summit Targets Foreign Funding for Hydropower Ventures
Nepal seeks foreign investment for hydropower projects at investment summit, aiming to boost energy production and economic growth.
Nepal recently hosted a crucial investment summit in Kathmandu with the goal of attracting foreign funds, particularly for expanding hydropower projects. This two-day event gathered international investors and Nepali officials to discuss potential investments in hydropower, tourism, and other key sectors.
Prime Minister Pushpa Kamal Dahal stressed Nepal's untapped potential in renewable energy, notably in hydropower. Despite possessing numerous rivers and towering mountain peaks, Nepal has only tapped into a fraction of its hydropower potential, currently harnessing only 3,200 megawatts with more projects in the pipeline.
Dahal emphasized the investment opportunities in hydropower, highlighting the existing and planned cross-border transmission lines with neighboring India and China, facilitating energy exchange in the region. Nepal has also inked agreements with China, India, and Bangladesh for power trade and cooperation.
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Beyond energy, Nepal aims to rejuvenate its tourism sector, which has been severely affected by the COVID-19 pandemic. Finance Minister Barsha Man Pun highlighted the summit's significance in fostering collaboration among policymakers, investors, and experts to encourage joint ventures across industries and infrastructure development.
The investment summit seeks to position Nepal as an attractive destination for private sector investment, showcasing recent reforms aimed at improving the investment climate and providing regulatory support for both domestic and foreign investors.
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