Kathmandu, March 12:

Minister for Foreign Affairs Upendra Yadav said the government would soon set up a high-level investment board under the chair of Prime Minister Pushpa Kamal Dahal ‘Prachanda’ in order to simplify the procedures for the establishment of industries and create an investment friendly environment.

He was addressing a programme organised by Nepal-German Chamber of Commerce in Berlin.

According to a statement issued here today, Yadav said that the board would provide concessions and facilities to investors and industries in coordinated manner.

“The government will continue pursuing liberal economic policies and will strive to make the current economic policy further friendly to the foreign investors,” he said in the statement.

He also expressed commitment to create a conducive environment for business in Nepal, and said economic and trade related policies would be reviewed in line with the competitive global economy and the changed context in Nepal, the statement added.

Emphasising on Public-Private Partnership for economic development, he called the private sector — both from within and outside the country — to make more investment in the country.

He also held meeting with German Acting Federal Foreign Minister Guenter Gloser in Berlin yesterday to mark the 50th anniversary of the establishment of diplomatic

relations between Nepal and Germany.

The meeting focused on promotion of tourism and investment, facilitating export of Nepali products to the German market and resumption of direct air links between the two countries, said the statement.

On the occasion, the German minister assured to enhance cooperation through the multilateral organisations such as the World Bank, ADB and EU.