First Business News Portal in English from Nepal
KATHMANDU: During a thorough assessment of the Investment Board Nepal’s annual report, Prime Minister Pushpa Kamal Dahal underscored the need to elevate the board into a highly proficient institution.
He emphasized equipping the board with agility, efficiency, and expertise to transform it into a knowledge and experience hub.
Addressing the Chief Executive Officer (CEO) of the Investment Board, the Prime Minister urged the proposal of vital policy, legal, and institutional reforms to further empower the board. The government’s vision is to establish the board as a central authority responsible for leading strategic infrastructure projects nationwide.
Praising the Investment Board’s accomplishments in coordination, cooperation, and partnerships, Dahal called for reaching new heights and making significant contributions to the nation’s prosperity and development. He assured his commitment to providing necessary support for effective performance in the upcoming year.
Expressing confidence in the board’s performance during the last financial year, Prime Minister Dahal highlighted the potential of attracting private sector investments, including foreign direct investment (FDI), for major infrastructure development projects in the country. He reaffirmed the government’s dedication to promoting private investments to fuel national progress.
The Prime Minister lauded the Board’s professionalism, recognized by various international organizations, and commended their scientific and timely project “screening” process. He emphasized the importance of collaborating with relevant ministries in identifying and “structuring” projects.
During the occasion, Sushil Bhatta, CEO of the Investment Board, presented a comprehensive performance report covering the Board’s mandate, strategic plan, business plan, and progress achieved under the Government of Nepal’s budget and programs.
The performance report highlighted four key areas of focus: project management, investment promotion, institutional development, and coordination, collaboration, and partnerships. Each task was accompanied by result-based indicators and concise explanations.
Looking ahead to the next financial year, CEO Bhatt shared the main tasks planned for completion, highlighting significant achievements in all four areas during the previous financial year.
The executive officer is committed to submitting a report to both the Prime Minister and the Board chairman, and a performance agreement between the Board chairman and the executive officer is in place to ensure accountability and progress in the future.
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