Nepal is preparing to push India for the implementation of energy banking between two countries as energy officials of the two countries are meeting next week to discuss various aspects of energy cooperation. The joint steering committee involving energy secretaries of two countries is hosting its 13th meeting on December 10 and 11 virtually. For the past few years, Nepal has been repeatedly requesting India for the full-fledged implementation of the programme so as to easily sell electricity generated in the country. Once, Energy Minister Barsha Man Pun even…
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High-level team visits industrial infrastructures of three provinces
KATHMANDU : A high-level team of Nepal government led by Honorable Minister for Industry, Commerce and Supply Mr. Lekh Raj Bhatta recently inspected various industrial infrastructures in Bagmati, Lumbini and Sudurpaschim provinces. Other members of the team were Industry Secretary Mr. Chandra Kumar Ghimire, Commerce Secretary Mr. Baikuntha Aryal and CEO of Office of the Investment Board Nepal Mr. Sushil Bhatta. The team observed the sites of dry ports, industrial estates, industrial villages and proposed Special Economic Zone (SEZ) in Kanchanpur, Kailali, Banke, Rupandehi and Chitwan on 30th October-4th November.…
Read MoreIBN and IDML Collaboration for Industrial Area Development
KATHMANDU: Chief Executive Officer (CEO) of the Office of the Investment Board Nepal (OIBN) Mr. Sushil Bhatta had a meeting with Chairperson of the Industrial Development and Management Limited (IDML) Mr. Nanda Kishor Basnet to discuss collaboration and coordination between the two government agencies. In the meeting, held at the OIBN on November 20, 2020, Mr. Basnet said IBN and the IDML should collaborate on bringing in suitable investors for the development of industrial areas across the country. “We have secured land and necessary infrastructure for investors, and IBN can…
Read MoreAsian Development Bank approves $150m loan to upgrade two international airports in Nepal
Asian Development Bank approves $150m loan to upgrade two international airports in Nepal From The Kathmandu Post This will be the largest funding package the multilateral agency has given to Nepal’s civil aviation sector so far. The Asian Development Bank has approved a $150 million concessional loan to improve the capacity of Tribhuvan International Airport and Gautam Buddha Airport in Nepal. This will be the largest funding package the multilateral agency has given to Nepal’s civil aviation sector so far. The Nepal government will chip in $48 million for the…
Read More“COVID-19 can be an opportunity for the growth of startups in Nepal”
Mr. Mahesh Murthy is an innovative investor, entrepreneur, and speaker. Mr. Murthy founded Passionfund, Seedfund, and Pinstorm to invest in and guide startups. Seedfund, India’s leading venture capital, was twice voted ‘India’s best early-stage fund’ by an independent publication surveying Limited Partners in 2010 and 2013. A multiple award-winning creative writer and director, Mr. Murthy won the ‘Asia Best Commercial of the Decade’ award. Mr. Murthy has delivered a number of keynote speeches in various countries on startup businesses. Talking to IBN Dispatch, the monthly newsletter of Investment Board Nepal…
Read MoreHuaxin’s construction work moves smoothly
Kathmandu Amid the COVID-19 crisis, Huaxin Cement Narayani has completed earth excavation, around 98 percent of concreting, manufactured 91.5 percent of the steel structures and non-standard equipment, and erected 48 percent of steel structures and equipment installations in the process of constructing the factory in Talti, Dhading. According to the latest update provided by the project, they have submitted the supplementary Initial Environmental Examination (IEE) including the private and public land required by the company to the Department of Industry (DoI) on October 10. The project got the mining scheme…
Read MoreInvestment worth Rs 38.68 billion approved for three projects
KATHMANDU: The 45th meeting of Investment Board Nepal (IBN) was held under the chairmanship of the Right Honorable Prime Minister and IBN’s chairman Mr. K.P Sharma Oli, on 10th November. The meeting convened in Baluwatar, Kathmandu approved investment worth Rs 38.68 billion for three hydropower projects to be implemented under Public-Private Partnership (PPP) modality. The meeting granted approval for investment worth Rs 17624 million for 77.5-MW Ghumsakhola Hydropower Project, Rs 10619.1 million for 57-MW Himchuli Dordi Hydropower Project and Rs 10436 million worth of investment for 65-MW Dudhkhola Hydropower Project.…
Read MoreIBN 45th Board Meeting – Press release
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Read MoreNepal’s pandemic-time economic focus
The world is beset by unprecedented challenges brought on by the Covid-19 pandemic, and Nepal is no exception. Most sectors of the economy are functioning at alarmingly low capacities. Inflation, price levels, economic growth, national income, GDP, and employment are allotted almost equal weights in macroeconomic calculations in normal times. Clearly, the first priority now needs to be employment generation in all sectors so as to ensure all households meet their basic needs. But doing so may compromise economic growth and contribute to inflation. Greater weight for employment generation might also…
Read MoreWorld Bank projects Nepal’s economic growth for 2020-21 at 0.6 percent
Nepal’s economy came to a standstill mainly due to the lockdown in the last fiscal year that ended in mid-July, registering a negligible growth of 0.2 percent. But despite businesses being open now, the outlook is bleak for the current fiscal year too. The economy is projected to grow by just 0.6 percent, as Covid-19 periodic and localised lockdowns continue and disruptions to tourism are expected to persist, according to the World Bank’s latest South Asia Economic Focus released on Thursday. But should Covid-19 persist, disruptions continue and weak subnational capacity to…
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