Govt unveil plan to create job for one million people in 10 years

KATHMANDU: The Ministry of Industry has unveiled an ambitious plan with the promise of attracting foreign investment in domestic industrial sector and creating employment opportunities for one million people within the next 10 years.

MoI unveiled the ambitious plan in a meeting with the representatives of various diplomatic missions in the Capital.

On the occasion, Industry Minister Nabindra Raj Joshi said the plan aims at setting up at least one industry at each local level within a decade.

Nepal has guaranteed an investment-friendly atmosphere with the promulgation of new constitution, he said.

“And, on this backdrop, we call on all our international friends to invest in Nepal and take benefit of it,” he added. “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 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.