Kathmandu: Stakeholders have emphasized the need for Nepal to develop a more welcoming culture for investors, highlighting that foreign direct investment (FDI) is crucial to address infrastructure gaps in the country.

During a program organized by the US Education Foundation Nepal on the potential and challenges of the investment environment in Nepal, speakers noted that the country must pay attention to investors' intentions and address various challenges.

Key challenges identified for attracting FDI include legal and administrative hurdles, ensuring profitability, guaranteeing returns, availability of feasible projects, and access to markets for goods and services. Sushil Bhatta, CEO of the Investment Board of Nepal, expressed concerns about the lack of projects to showcase to investors, insufficient facilitation efforts, and challenges in the prefeasibility study of projects. He mentioned ongoing preparations to sign major projects at the upcoming Third International Investment Conference scheduled for April 21 and 22 in Kathmandu.

Bhatta emphasized that investment opportunities extend beyond the infrastructure sector to include the service sector, high-value manufacturing industries, and the IT sector. Radhes Pant, former CEO of IBN, called for responsibility and accountability to attract more FDI. Joint Secretary at the Ministry of Industry, Commerce, and Supplies, Baburam Gautam, urged the private sector to play a role in creating a positive environment for welcoming FDI in Nepal.