Honorable guests pose for a group photo during the closing ceremony of Nepal Investment Summit 2019 in Kathmandu, Nepal, March 30, 2019. Through the summit, Nepal sought investment in different projects related to urban infrastructure, energy, tourism, agriculture, education and health sectors among others. (Xinhua/Sulav Shrestha)
KATHMANDU, March 29 (Xinhua) -- Nepalese Prime Minister KP Sharma Oli wooed foreign investment Friday at an investment summit, describing the country as "almost a virgin land" for investment with every sector profitable.
The two-day Nepal Investment Summit-2019 kicked off on Friday in capital Kathmandu, with a participation of 735 foreign delegates representing 39 countries and regions, including representatives from 300 companies from across the globe, according to Investment Board Nepal, coordinator of the event.
Nepal seeks to attract investment in 77 different projects related to urban infrastructure, transport infrastructure, energy, tourism, agriculture, hydropower, education and health sectors among others, whose estimated cost is around 32 billion U.S. dollars.
During the inauguration of the event, the Nepali prime minister said that Nepal has opened almost all areas for foreign investors barring a narrow box of sensitive areas.
"We allow 100 percent investment in almost all areas," he told the gathering of investors from across the globe.
The South Asian country had received investment pledge of 13.52 billion U.S. dollars in the last investment summit held in 2017.