Call to draft investment-friendly laws

Karnali, Dec 25: Chief Minister of Karnali Province, Yamlal Kandel, has urged the Investment Board of Nepal to develop investment-friendly tools to receive more investment.

Inaugurating the provincial dialogue on public-private partnership organized by Karnali Province in Birendranagar on Wednesday, the Chief Minister said that only the investment-friendly laws could develop areas like Karnali that possess immense possibilities.

“The development and prosperity of Karnali would bring improvement in the country’s economy, but investment is needed for this to happen,” Kandel said. Asking the federal government via the Investment Board of Nepal to do something minimum for infrastructure development in Karnali Province, Kandel stated that investors would flock to the province if the Karnali highway, Karnali corridor, and Bheri corridor were constructed and flight service in the mountainous districts here were ensured.

He was of the view that the two major projects, the Bheri corridor and the Karnali corridor of the province, should be expedited to control the ongoing trend of out-migration. Likewise, Chief Executive Officer of the Investment Board of Nepal Sushil Gyawali said that the Board would work by giving top priority to infrastructure development. “We need Rs 2 trillion in a year for development projects.

For this, management of means and resources of all three levels of government, along with coordination, is needed,” CEO Gyawali added. On the occasion, CEO Gyawali stated that the Board would oversee the projects having more than Rs 6 billion of budget.

He viewed that the projects at the province and local levels should be executed on a private-public partnership model. The provincial dialogue will conclude on Thursday. —RSS