Nepal  Govt seeks to draw USD 10 billion investments in 5 yrs
Nepal Govt seeks to draw USD 10 billion investments in 5 yrs
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Kathmandu: The Investment Board Nepal, a high-level statuary body formed to facilitate large-scale investments, has unveiled a strategic plan aiming to attract projects worth USD 10 billion in the next five years. An official statement on the matter reads: "The IBN aims at attracting projects worth USD 10 billion in the next five years as per the plan."

Prime Minister Sher Bahadur Deuba, who is the board's chairperson, rolled out the "Business Plan 2021-2025" on the occasion of its 10th anniversary on Wednesday, reports Xinhua news agency. Under the 5-year business plan, endeavours would be made to generate employment for at least one lakh people through the implementation of investment proposals.

Addressing the anniversary ceremony, Deuba said his government is committed to creating a conducive environment for private sector investment through necessary legal and policy reforms. He acknowledged that attracting large-scale investments in the aftermath of the Covid-19 pandemic is challenging. According to Deuba, Nepal faces an annual fiscal gap of USD 6 billion in its effort to achieve sustainable development goals by 2030. Deuba said, "The Covid-19 has led nations to lean toward inward investments, so attracting investments is likely to be more challenging."

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