The Cabinet today appointed Radhesh Pant as chief executive of Investment Board.
Pant, currently chief executive officer of Kumari Bank, has a long professional and impressive background.
Earlier, he was the managing director of Bank of Kathmandu that he turned into a robust financial institution after his appointment. Educated in the US, Pant was also the president of Nepal Bankers Association (NBA).
He is B Tech From Indian Institute of Technology Bombay and an MBA from University of California, Los Angeles.He has also worked as Strategic Consultant for Kathmandu University Medical College and spent a stint with Necon Air as the advisor to the chairman for more than two years in 1999-2002.
He worked for almost 10 years in the US before coming back to Nepal in 1999. From 1989 - 1992, Pant worked as a financial analyst at Prime, a division of Kangyo Kakumaru Research, Japanese Investment bank, in California.
From 1992-1999, he held various positions at Amgen Inc, the largest biotechnology company in the world. At Amgen, he started off as a senior financial analyst and rose up to the position of Manager Treasury.
The Investment Board that has Prime Minister Dr Baburam Bhattarai as chiarman and Finance Minister Barsha Man Pun as its vice-chairman will start its operations after Pant's appointment of chief executive.
The selection committee has yesterday recommended three names including Radhesh Pant to the Investment Board.
Some eight candidates have applied for the post of chief executive of the Board that is envisioned to give a one-window solution to potential investors in big projects over Rs 25 billion.The Parliament had approved the Investment Board Act on August 15, after two years of pending, whereas the idea was floated some 14 years ago by bi-national chambers.
The board that will have a secretariat will work as a one-window system to address investors' concerns will be directly under the Prime Minister’s Office.
Pant's appointment as the chief executive is expected to smoothen inflow of foreign direct investment (FDI) by creating investment friendly environment by facilitating investment in infrastructure projects and projects with large capital base.