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Easing investments

Sunday, June 24th, 2012
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Nepal Investment Board (NIB) has formulated a strategy to attract investment in various 50 sectors.

The sectors identified by the NIB include hydropower, infrastructure development, education, health, agriculture, tourism, information and communication technology, minerals and others.

Chief Executive Officer of the NIB, Radhes Pant, said that a power purchase agreement was prepared and getting contracted with the concerned producers. Both the government and private sectors had agreed to the PPA the NIB made, Pant said, adding that the works on West Seti Hydropower Project would be expedited with priority.

Other projects in the priority were the Arun-III, Upper Karnali, Upper Marsyangdi and Tamakoshi III Hydropower project. “Tangible progress could be seen in 2013,” said Pant.

In order to create investment-friendly atmosphere, the NIB is also for the amendments of necessary laws and policies.

However, CEO Pant said political stability was a must for this.

Meanwhile, the government has formed a taskforce under Nepal Trade Forum to solve problems on direct foreign investment. The taskforce comprises the representatives from donor agencies, government and private sectors. It would help the NIB to bring an action plan for making country an investment destination.

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