KATHMANDU: Prime Minister Sher Bahadur Deuba has said the incumbent government is working towards the expansion of investment scope in the country, thereby enabling an environment conducive to investment.
The Prime Minister assured that the incumbent government was committed to fulfilling the aspirations of development and prosperity of the people, and hence providing all possible incentives to the investors.
Addressing the ‘Sustainable Infrastructure Investment Forum (SIIF)-2022’ organized by the Investment Board Nepal (IBN) here today, Prime Minister Deuba said, “Let’s further strengthen our partnership and collaboration for sustainable development and to build a better future for the country. We have opportunities to focus on the implementation of the Sustainable Development Goals.”
Stating that the government has been implementing the 15th periodic plan with a special focus on the development of infrastructure, Deuba expressed his confidence that the government would be able to fulfill its commitment to reducing carbon emissions in Nepal to zero by 2045.
According to him, an estimated 19 billion USD was needed to achieve the Sustainable Development Goals (SDGs) in Nepal while the COVID-19 pandemic and geopolitical crisis had led to an additional need for the funds to achieve the SDGs.
Moreover, the Head of the Government reiterated that his government was ever ready to provide all kinds of support to the investors, both domestic and foreign, for investment in the infrastructure sector.
He called for exploring more opportunities for investment through public-private partnership.
Lauding the IBN’s decisive role in attracting foreign investment, the Prime Minister shared that the government had approved around 900 billion rupees worth of investment for 33 projects at present, mostly of them related to green and clean energy.
Furthermore, Deuba shared that the government was effortful to further increase the confidence of investors by providing them prompt services.
Practical solutions are being sought and efforts are being made to forge collaboration to secure investment for development of sustainable infrastructures.
On the occasion, the Prime Minister, who is also the Board Chair, launched the Project Banks Directory developed by the Board in a bid to prepare a list of feasible projects for the country.
He also launched the One Stop Service Digital System of Integrated Service Center developed for the convenience of investors.
Likewise, the Prime Minister unveiled a study report prepared by the Board for the establishment of Chemical Fertilizer Factory in the country.
IBN Chief Executive Officer Sushil Bhatt shared that promotional programs have been carried forward at home and abroad with the main objective of investment promotion.
Guidelines have been prepared for project banks that are reliable, investable and sustainable for private investors.