Monday, January 7, 2013

Investment Board, Private Sector to market projects

Nepal Investment Board and private sector are jointly marketing projects that can promote socio-economic development and generate employment in the country.
"The board has formally called for proposals from the private sector for projects of national priority sector like hydropower, tourism, agriculture, mining and minerals, health and education, information and communication technology (ICT) and physical infrastructure like roads, airports, bridges and alternative energy," said chief executive of the Investment Board Radhesh Pant.
"The promoters could be domestic or international," he said, adding that the project proposals over Rs 1 billion and are financially viable will be marketed by the board and Federation of Nepalese Chambers of Commerce and Industry (FNCCI) jointly as Nepal Investment Year initiative. "It will also send a positive message to the investors that the government and private sector are working together to attract the investment in the country."
The board is expecting many financially viable projects — especially in hydro and tourism sector — to be submitted by February 20 at the board.
"The board will then publish a priority list and start marketing them," Pant said. "There are many good projects which have not been able to take off due to lack of funding and the board and FNCCI will jointly market them."
Even the projects that are below Rs 1 billion but help local soci-economic development could be considered, he added.
The board was established by the government after a decade of lobbying from the private sector as the single-window solution to the investment above Rs 1 billion.
Though, the government has been planning to attract some 50 projects of over Rs 1 billion during Nepal Investment Year 2012-13, the board has not been able to attract investors — both domestic and foreign — due to government's failure in bringing the budget for the current fiscal year.
The uncertain politics and policy measures coupled with regular 12-hour load-shedding due to incumbent government led by caretaker prime minister Dr Baburam Bhattarai's apathy towards people and the country have sent a negative message to the investors.

Investors to be feted
KATHMANDU: The Ministry of Industry is planning to felicitate investors, who have invested over Rs 2 billion with Prime Minister National Recognition. "The ministry has been preparing a list of the investors, who have invested over Rs 2 billion," said joint secretary at the ministry Yam Kumari Khatiwada. "The ministry is also working on directives of Industrial Security Force for the security of industrial corridor and preparing to help sick industries," she informed, adding that the draft of Special Economic Zone (SEZ) establishment guideline has also been sent to cabinet for approval, apart from new regulation to revive sick industries.

No comments: