Call to attract investment in Karnali

File Photo

KARNALI, DECEMBER 26: Chief Minister of Karnali Province, Yamlal Kandel, has urged the Investment Board of Nepal to develop investment-friendly laws to attract more investments into the region.

Speaking at the inauguration of a provincial dialogue on public-private partnership organized in Birendranagar on Wednesday, Chief Minister Kandel emphasized that such laws are crucial for the development of regions like Karnali, which have significant potential.

“The development and prosperity of Karnali will contribute to the country’s overall economic growth, but for this, we need substantial investment,” Kandel stated.

He urged the federal government, through the board, to prioritize infrastructure development in Karnali Province. Highlighting the need for projects such as the Karnali Highway, Karnali Corridor, and Bheri Corridor, as well as improved air services in mountainous districts, Kandel asserted that these developments would attract investors and help mitigate the region’s out-migration trend.

Chief Minister Kandel stressed the importance of expediting the Bheri Corridor and Karnali Corridor projects, which he believes are vital to the region’s economic transformation.

Similarly, the Chief Executive Officer of the Board, Sushil Gyawali, assured that his organisation would prioritize infrastructure development. “We need Rs 2 trillion annually for development projects. This requires effective resource management and coordination among all three levels of government,” CEO Gyawali noted.

He added that the Investment Board would oversee projects with a budget exceeding Rs 6 billion and advocated for the implementation of public-private partnership (PPP) models for provincial and local-level projects.

The provincial dialogue, which began on Wednesday, is scheduled to conclude on Thursday.