Nepal hosts an investment summit in hopes of attracting foreign money for hydropower projects

Nepal is hosting an investment summit, hoping to attract much-needed foreign investment. It particularly wants to develop hydropower projects to produce more electricity that it can sell to neighboring countries. Several foreign investors were attending the two-day meetings in the capital, Kathmandu, where Nepali officials urged investments in developing hydropower projects and in other areas like tourism and industry. Nepal is home to eight of the tallest mountain peaks in the world and several rivers flow down from them, bringing huge potential for hydropower, but only a few projects have been built in the poor south Asian nation. Nepal is also hoping to attract more investment in tourism, which is struggling to recover from the COVID-19 pandemic.