Investment Board unveils its strategic plan, targets to approve US$10bn investment in five years

KATHMANDU: Office of the Investment Board Nepal (OIBN) has made public its strategic plan with the aim of approving US$ 10 billion worth of foreign investment in five years.

The strategic plan including a five-year business plan (2078-82) was unveiled at a special program organized to mark the 10th anniversary of the OIBN. The OIBN strategic plan and five-year business plan was launched by Prime Minister and Chairman of the OIBN Sher Bahadur Deuba.

The strategic plan aims at approving US$ 10 billion investment in five years, manage US$ 6 billion investment in public-private partnership projects, help create at least 100,000 jobs, contribute to improving the investment climate through effective investment promotion, and develop OIBN a center of excellence in public-private partnerships.

The strategic plan envisages making Nepal an attractive investment destination for economic prosperity through project development and management, investment promotion, institutional development and coordination, cooperation and partnership.

Established in 2011, the OIBN is celebrating its 10th anniversary with the slogan of Partnership for Economic Prosperity.

The Nepal Investment Guide 2021 and Coffee Table Book developed by the OIBN were also unveiled at the event.

Addressing the event, Prime Minister Deuba expressed his commitment, on behalf of the government, to make Nepal a friendly destination for investment to both domestic and foreign investors. “We need investment in significant volume as the country is moving forward with the plan to achieve sustainable development goals (SDGs) by 2030 by upgrading itself as a high-middle income country,” said Deuba.

Finance Minister Janardan Sharma expressed the government’s commitment to create the necessary environment for private investment in the country. Stating that the foundation has been laid for economic prosperity in Nepal, he stressed on the need to increase investment in major infrastructure projects by involving people’s participation to achieve the goals and aspirations of the government in the next 10 years.

Speaking on the occasion, OIBN Chief Executive Officer Sushil Bhatta said that investment in the infrastructure sector was important for economic development. “The OIBN has prepared a list of investable projects to expedite the development of infrastructure. This will ensure returns for investors and meet the needs of the country,” said Bhatta. He said that the OIBN will be developed as a center of excellence of public-private partnership within a few years.

Fiscal Nepal |
Wednesday September 8, 2021, 02:05:06 PM |

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