Government is committed to ensuring environment conducive to investment in Nepal

Kathmandu: Prime Minister Sher Bahadur Deuba has expressed the government’s commitment to ensuring an environment conducive to investment in Nepal.

Addressing the ‘Sustainable Infrastructure Investment Forum 2022’ organized by the Investment Board Nepal in Kathamndu today, Prime Minister Deuba stressed the need for strengthening partnership and collaboration for sustainable development and a better future for the country.

Prime Minter Deuba also pledged to provide all kinds of support to the investors, both domestic and foreign, for investment in the infrastructure sector.

He also called for exploring more opportunities for investment through public-private partnership.

Stating that the government has been implementing the 15th periodic plan with a special focus on the development of infrastructure, Prime Minister Deuba expressed his confidence that the government would be able to fulfil its commitment to reducing carbon emissions to zero in Nepal by 2045.

According to him, an estimated 19 billion USD was needed to achieve the Sustainable Development Goals (SDGs) in Nepal. The Prime Minister added that the COVID-19 pandemic and geopolitical crisis had led to an additional need for funds to achieve the SDGs.

On the occasion, the Prime Minister unveiled a study report prepared by the Board for the establishment of a Chemical Fertilizer Factory in the country.

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, most 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 the 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.

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.