Kathmandu.  KATHMANDU: President of the Confederation of Nepalese Industries (CNI), Birendra Raj Pandey, has said that the size of the country’s economy could be increased to $100 billion by a decade.

Speaking at the 23rd annual general meeting of the CNI here today, Pandey said the study has shown that the size of the country’s economy could be made $100 billion by 2033 at prevailing prices and in real value by 2039. The study was conducted by the Confederation in collaboration with the Investment Board.

According to a study carried out by more than 20 experts over eight months, an average of six percent annual economic growth is needed to meet the target. The government has set a target of seven per cent growth rate while our study has shown that it was possible to achieve the six per cent growth in the long-term,” he said.

According to him, the CNI has proposed 100 possible measures related to energy, production, tourism, ICT, agriculture, infrastructure and institutional reform to take the target forward. According to him, infrastructure development, energy, information technology, production-based industries, tourism, agriculture, mines and minerals, education and health sectors were prioritized during the study. The study took 2025 as the base year and analysed the impact of the reforms till 2030.

The study focused on the role of the private sector, investment, job creation and expansion of economic activities. Investment-friendly policies from the government and support of knowledge, financing and technology from development partners are essential to achieve this goal,” he said.

Poverty alleviation, expansion of electricity access, hydropower potential, youth human resources, entrepreneurship, tourism, strategic geographical location and digital capabilities have strengthened this campaign.