Kathmandu, Sept. 18 – Prime Minister KP Sharma Oli has said that the infrastructure projects should be implemented sooner for achieving economic prosperity in the country.
Addressing the meeting of the Investment Board (IB) of Nepal on Tuesday, the PM directed the officials to proceed the process immediately to the drafting of laws and amend the provisions if needed to attract the national and foreign investments.
The meeting of the IB has also proposed to organize the investment conference in March 2019 meant for facilitating the foreign direct investment (FDI).
Likewise, the meeting of IB has given a nod to Japan Club International to establish five-star hotels in three places in the country. The company would open five-star hotels in Thankot of Kathmandu, Bhaktapur and Pokhara. The meeting has directed the IB to facilitate the required process to promote tourism for the opening of the five-star hotels at the cost of Rs 13.9 billion. The prestigious group of hotels from Japan was proposing to establish the hotels in Nepal for long and the decision was taken to give permission for establishment of hotels as per the same proposal, Chief Executive Officer of the IB Maha Prasad Adhikari said.
Meanwhile, a high-level taskforce has been constituted to design the new framework for investment facilitation for the development West Seti Hydropower Project after the Chinese firm expressed its reluctance to invest in the project.
Minister for Energy, Water Resource and Irrigation Barsha Man Pun, Finance Minister Dr Yubraj Khatiwada and CEO Adhikari and others are the members in the taskforce.
Likewise, the meeting appointed President of Federation of Nepalese Chambers of Commerce and Industries Bhawani Rana, Chairman of Nepal Chamber of Commerce Rajeshkaji Shrestha and Chairman of Confederation of Nepalese Industries (CNI) Hari Bhakta Sharma and Balkrishna Siwakoti as the member of the IB for two years.