First Business News Portal in English from Nepal
KATHMANDU: The Office of the Investment Board Nepal (OIBN) has unveiled its four-year strategic plan setting a target to bring in US$10 billion foreign investment within next four years.
OIBN, which is celebrating 10 years of its establishment, has set a target of attracting domestic and foreign investment of around Rs 1.2 trillion in various projects by 2026 BS. The board has stated that the investment will create employment for 100,000 people in Nepal.
The board has also set target to develop projects worth more than US$ 6 billion in the public-private partnership (PPP) model during the same period. The strategic plan prepared by the board aims to create an investment-friendly environment through investment promotion and establish OIBN as a ‘PPP Center of Excellence’.
To achieve these goals, the OIBN has prepared four strategic pillars; project development and management, investment promotion, institutional structure development and improvement, and coordination and cooperation.
The strategic plan prepared by OIBN has given importance to issues including policy departure and improving the organizational structure. The strategic plan also discusses about long-term strategic planning for investment, preparation of project banks, operation of one-stop service center, implementation of Knowledge Management Portal (KMP), and revision of existing laws on foreign investment, policy reforms and procedures.
OIBN has approved more than Rs 832 billion investment in 27 projects in different sectors in the last 10 years. These projects are currently in various stages of implementation.
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