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July 18, 2024, Thursday
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US delegation to participate in Investment Summit

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The US Chamber of Commerce delegation is going to participate in the Investment Summit to be held in Nepal on April 28-29.

US Ambassador to Nepal, Dean Thompson, apprised Minister of Finance Barshaman Pun of the participation in a meeting at the Ministry of Finance on Monday.

During the meeting, they discussed various issues of mutual interests including timely completion of the projects that are being run in Nepal with the support of the U.S.

The American envoy pledged support from their side to make the Investment Summit a success, according to Minister Pun’s Secretariat.

Informing that preparations were afoot to organize the summit successfully, Minister Pun shared that preparation for legal and procedural reforms was being made to create an investment-friendly environment in the country.

“As a favorable investment climate is being enabled in Nepal, we are anticipating for the participation of more American investors,” Minister Pun said to US Ambassador Thompson.

According to the Minister, works related to the Sovereign Credit Rating, a measurement of a government’s ability to repay its debts, had been taken forward to improve the investment environment in Nepal.

The government of Nepal has taken forward the process of rating Nepal’s credit rating through an international credit rating organization named Fitch.

Similarly, Minister Pun shared that the possibility of Nepal being blacklisted by the Financial Action Taskforce has been eliminated as the bill related to Anti Money Laundering and Business Environment Promotion has been endorsed by both Houses of parliament.

The Bill that amended provisions of 19 different laws related to money laundering, is currently in the process of authentication by the President.