US Delegation to Attend Investment Summit

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US Delegation to Attend Investment Summit

April 2: A delegation of the US Chamber of Commerce delegation is all set to attend the upcoming Investment Summit to be held in Nepal on April 28-29.

US Ambassador to Nepal, Dean Thompson, apprised Minister for Finance Barshaman Pun of the participation of the US delegation 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 support of the U.S. The American envoy pledged support 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 the government has initiated the process for legal and procedural reforms to create 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 told the US Ambassador.

According to Minister Pun, works related to the Sovereign Credit Rating, a measurement of the government's ability to repay its debts, had been taken forward to improve investment environment in Nepal. The government of Nepal has taken forward the process of rating Nepal's credit rating through international credit rating organization named Fitch Ratings.

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 the both Houses of the parliament. The Bill that amended provisions of 19 different laws related to money laundering, is currently in the process of authentication by the president. -- RSS

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