KATHMANDU, April 20: The Ministry of Industry has unveiled an ambitious plan with the promise of attracting foreign investment in domestic industrial sector and thus creating employment opportunities for one million people within the next 10 years.
The Ministry unveiled this plan in a meeting with the representatives of various diplomatic missions here today as it seeks to create employment opportunities at home and make youths stay at home by addressing their needs for job opportunities within the next 10 years.
On the occasion, Industry Minister Nabindra Raj Joshi said the plan aimed to set up at least one industry at a local level within a decade.
Nepal has guaranteed the investment-friendly atmosphere with the promulgation of the new constitution and on this backdrop we called on all our international friends to invest here and take benefit of it.
"The Government of Nepal is committed to formulating business policies convenient to the investors."
Ambassadors from Japan, Finland, Brazil, the United Arab Emirates, the US, EU and representatives from the UNDP and SAARC were present in the meeting.
They urged the Nepal Government to simplify the process of acquiring land for setting up industries and relieve them of going through a tardy process to invest in Nepal, according to Spokesperson for the Ministry Purushottam Nepal.
Representatives from 16 diplomatic missions were present in the meeting and they pledged their support and cooperation to increase investment in Nepal, he added.
It is noted that the Ministry on March 5-6 had organised an Investment Conference with a view to bringing more investment into the country. On the occasion, foreign investors pledged investments of Rs 140 billion in Nepal. RSS