By Ajay Chhetri, Kathmandu, Sept. 8: The Investment Board of Nepal (IBN) has unveiled a strategic plan for 5 years (2078-2082 BS) targeting to attract foreign investment worth $ 10 billion in the next 5 years.

The plan was unveiled by the Chairman of the IBN and Prime Minister Sher Bahadur Deuba at a ceremony held to mark the 10^th anniversary of IBN on Wednesday.

The plan has set out 5 vital objectives for the 5 years. The strategic plan aims to approve $ 10 billion in 5 years, managing private-public partnership projects worth $ 6 billion, creation of 100 thousand employment opportunities, improvement of investment environment by effective promotion, and development of IBN as a center of excellence for public-private partnership.

The board has also introduced a four-pillar plan, which comprises of management and development of the project, investment promotion, institutional development, and coordination, cooperation and partnership future to drive Nepal into an attractive destination for economic prosperity.

The investment board has also brought forth "Nepal Investment Guide 2021' and "Coffee Table Book". 

Addressing the function PM Deuba urged the foreign investors to invest in Nepal. He assured them that the government is committed to creating a congenial environment to bring in foreign investment.

On the occasion, Finance Minister Janardan Sharma said that the investment environment has been heading in favourable direction for investment in the first decade. He emphasized that sufficient investment is required to accomplish the target as stipulated.

Minister Sharma added that acts and rules have been enacted and that the government's attention will be focused on proper implementation of them.

He emphasized that people should be included along with private and public partnerships for the facilitation of investment and proposed a 4P model instead of only the 3P model of investment.

Minister for Energy, Water Resources, and Irrigation Pampha Bhusal stated that country has the capacity to generate 42 thousand MW. She informed that currently one thousand 3 hundred and 83 MW is being generated. She said that government has a target of generating three, five, and 15 thousand MW in three, five, and 10 years respectively.

Pointing to the need for infrastructure for the transmission line, she said that an initiative has been undergoing for the development and expansion of electricity transmission lines to export electricity.

She informed that one solar project per province is forwarded and that it will generate 2 thousand MW of electricity.

World Bank Regional Director (Infrastructure) Guangzhe Chen, UK Ambassador to Nepal Nicola Pollitt, Chairman of World Association of PPP units and PPP Professionals Ziad Alexandre Hayek, Chairman and Managing Director of SJVN Ltd India, Nanda Lal Sharma, and Managing Director of Hongshi Shivam Cement, on behalf of Chairman of Hong Kong Red Lion No. 3 Ltd, also addressed the event.