Nepal Investment Year 2012/13
Kathmandu: Nepal government formally announced that fiscal 2012-13 would be observed as Nepal Investment Year (NIY). The first meeting of the National Directory Committee (NDC) chaired by Prime Minister Dr.Baburam Bhattarai decided to move the campaign ahead as per the government’s plan.
The NDC has formed four sub-committees – Programme Sub-Committee, Investment Promotion Sub-Committee, Investment Sector Identification Sub-Committee and the Act, Rules and Policies Revision Sub-Committee. The cordinators are, respectively, secretary of the Prime Minister’s Office Lila Mani Poudel, FNCCI president Suraj Vaidya, Investment Board CEO Radesh Pant and vice-president of the National Planning Commission (NPC) Deependra Kshetri.
The 42-member NDC consists of representatives from the Ministry of Finance (MoF), Ministry of Industry (MoI), Ministry of Tourism and Civil Aviation (MoTCA), Ministry of Commerce and Supplies (MoCS) and Ministry of Energy (MoE), among others. In addition, the committee will include representatives from the National Planning Commission (NPC), the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the Nepal Chamber of Commerce (NCC) and the Confederation of Nepalese Industries (CNI).
NIY is one of ambitious programmes of the government that seeks to double foreign direct investment (FDI) in the country.The government expects NIY to attract FDI in at least 50 mega projects during 2012-13.
Nepal attracted FDI worth Rs 10.04 billion in last fiscal year—10.43 percent higher than that of 2009-10.
