The 58th meeting of Investment Board of Nepal held today has approved the list of projects for which letters of intent will be sought, showcased and market sounding will be carried out during the near-coming the third Nepal investment Summit.

During the summit, a total of 148 projects including both government and private will be showcased.

The meeting today also decided to increase investment in two projects. An additional investment worth Rs.6 billion 634 million has been approved for the Huaxin Narayani Cement Project.

Likewise, Dabur Nepal has proposed reinvestment of Rs 9 billion 680 million for capacity expansion and product diversification. The detailed project report of the project was received and after the assessment the negotiation process was been taken ahead

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

The investment summit is being held in Kathmandu on April 28 and 29.