April 23: The Investment Board of Nepal (IBN) has approved the list of projects to be showcased in the upcoming Investment Summit.

The 58th meeting of the IBN chaired by Prime Minister Pushpa Kamal Dahal on Tuesday approved the list of projects, the state-owned RSS reported, adding that the IBN aims to seek letters of intent as well as showcase and carry out market sounding for these projects.

The IBN plans to showcase a total of 148 projects including government and private projects during the summit scheduled for April 28 and 29.    

The meeting also decided to increase investment in two projects. The board meeting approved an additional investment worth Rs 6.63 billion for the Huaxin Narayani Cement Project.    
Likewise, Dabur Nepal has proposed reinvestment of Rs 9.68 billion for capacity expansion and product diversification. The board gave the go ahead for negotiation process after receiving the project report and its assessment.

Following the meeting, Prime Minister Dahal directed to work to make the investment summit more result-oriented rather than being limited to formalities.

According to RSS, the prime minister also instructed the authorities to form a special unit to facilitate the mobilization of capital and credits from domestic, foreign and private sectors.    
Stating that the prosperity of the country will be achieved only through the partnership between the public and private sectors, Prime Minister Dahal said the government has initiated the work of amending laws to remove obstacles to investment.    
Chief Executive Officer of the Investment Board, Sushil Bhatta, shed light on the status of implementation of the decision of the previous board meeting and the preparations for the investment summit, RSS added.