During a review of the annual report of the Investment Board (IB) Nepal, PM Pushpa Kamal Dahal conveyed his vision of transforming the board into a highly competent institution. He urged for the board to be equipped with agility, efficiency, and expertise, allowing it to become a hub of knowledge and experience.
In his address, PM Dahal directed the Chief Executive Officer (CEO) of the IB Nepal to propose essential policy, legal, and institutional reforms to empower the Board further. The government envisions establishing the Board as a central entity for spearheading strategic infrastructure projects across the nation.
Commending the Investment Board’s accomplishments in coordination, cooperation, and partnerships, Dahal urged the organization to reach new heights and contribute significantly to the nation’s prosperity and development. He offered his commitment to provide the necessary support to ensure effective performance in the upcoming year.
Expressing confidence in the board’s performance during the last financial year, Prime Minister Dahal highlighted the potential of attracting private sector investments, including foreign direct investment (FDI), for major infrastructure development projects in the country. He reiterated the government’s commitment to fostering private investments to fuel national progress.
The Prime Minister appreciated the Board’s professionalism, as recognized by various international organizations, and lauded their scientific and timely ‘screening’ process for project development. He emphasized that the identification and ‘structuring’ of projects should be done in collaboration with the relevant ministries.
Sushil Bhatta, CEO of the Investment Board, presented a comprehensive performance report during the occasion. The report covered the Board’s mandate, strategic plan, business plan, and progress achieved under the authority of the Government of Nepal’s budget and programs.
The performance report highlighted four key areas of focus, including project management, investment promotion, institutional development, and coordination, collaboration, and partnerships. Each task was accompanied by result-based indicators and brief explanations.
Looking forward to the next financial year, CEO Bhatt shared the main tasks planned for completion, highlighting significant achievements in all four areas during the previous financial year.
The executive officer is bound to submit a report to both the Prime Minister and the Board chairman, and a performance agreement between the Board chairman and the executive officer is in place to ensure accountability and progress in the future.
