President of the Federation of Nepalese Chamber of Commerce and Industries (FNCC) Shekhar Golchha has said once the investment summit is held after the selection of projects, it would be more beneficial.

“Time has come to select the projects that attract investors from neighboring countries India and China. Complete preparation of the project is essential for this,” he reiterated at a program organized by the International Investment Promotion Committee in the federal capital on Thursday.

He argued that although the investment summits were held previously too, there was no expected foreign investment except in some hydropower in Nepal. President Golchha shared the information that FNCCI was holding talks to the ambassadors from neighboring countries in this regard. “Extensive homework is essential to categorize the areas where the foreign investment is needed,” he stressed.

On the occasion, Senior Vice-President Chandra Prasad Dhakal pointed out the need of in-depth study on why Nepal could not attract foreign direct investment.