Ignorant of the role of the Investment Board Nepal (IBN), finance minister Janardan Sharma today instructed the board to move ahead with big projects by raising capital on its own. The board was established to ease the inflow of foreign direct investment (FDI) of over Rs 10 billion as a one-window solution.
Addressing the seventh meeting of the Monitoring and Facilitation Committee under the board today, the Finance Minister, who also happens to be the vice chair of the board, said that the Finance Ministry will extend necessary assistance to the board in building capital.
Unlike the nature of work of the board that is waiting for investors to come, it should focus on building capital and investing in big projects, the finance minister said, also claiming that the ministry will discuss how it can help to create such fund.
He also suggested the board to set up a capital fund for export-based projects after holding discussions with the private sector. Urging the board to initiate for investment by envisaging projects that would make a significant contribution to the gross domestic product (GDP) and capital formation, he said that the board should create projects itself.
The board, on the occasion, presented the progress report of Arun III Hydropower Project and its subordinate projects, logistics projects, Khaptad Integrated Tourism Development Programme, Tamor Reservoir Hydropower Project, Upper Marsyangdi Hydropower Project, Vehicle Manufacturing and Assembling Plant and Huaxin Cement Project.
Expressing his dissatisfaction over the non-implementation of the decision of the board to provide one-door approval to large foreign investors, the finance minister asked the board to provide one-door approval to facilitate foreign investment.
The board should facilitate foreign investors to come to Nepal by choosing the project themselves or as investment partners in the project, he said, adding that the traditional mindset of development has to be changed.
3 comments:
Looking for premium flats at a reasonable price? DLF presents DLF One Midtown, a premium project in an ideal location in the heart of Delhi. The project is already in high demand as it is located amidst ample greenery, offers ultra-modern amenities and excellent connectivity from iconic landmarks. DLF One Midtown Moti Nagar project is surely a dream project for many looking for a convenient lifestyle.
DLF one Midtown
DLF one Midtown Moti Nagar Delhi
nice article , thanks for sharing checkout my work on 5 marla house design
Grate blog thanks for sharing with us.
Oha Properties Presents to you a wonderful oppurtunity to invest in land for farming near hyderabad.
We choose Sandalwood as our plantation project along with Malabar Trees, Mahogany and other seasonal fruits and vegetables.
Oxyridge farms are the best Investment lands for Sale in Narayankhed Hyderabad.
Post a Comment