Kathmandu. Vice-Chairman of the National Planning Commission Dr. Gunakar Bhatta has called on the International Federation of Nepali Youth Entrepreneurs to bring investment in Nepal and help promote investment in Nepal’s economic growth rate to 6 to 7 percent.

Speaking at a program organized by the FNCCI, Vice President Dr. Bhatta said that Nepal is currently on the path of economic growth of around 4 percent and taking it to 6 to 7 percent is the main challenge and concern.

He said that the knowledge, skills, capacity, technical skills and international experience of the youths would be important for the economic development of Nepal. He said that the knowledge, skills and experience gained abroad should be used for the economic development and expansion of investment in Nepal.

Dr Bhatta said that the federation would also play an important role in promoting the concept of borderless and weightless trade. Stating that this issue has been given priority in the budget for the current fiscal year, he said that the support of the private sector and Nepali entrepreneurs abroad is necessary to utilize the new business potential.

Vice-president Dr Bhatta said that there was ample potential for hydropower production and export, commercialization of agriculture sector and attracting international investment in education and health sectors in Nepal.

Stating that Nepal has been exporting electricity despite the disaster, he said that export could be expanded to the international market by increasing hydropower production. He also said that Nepal’s access to the international market could be expanded by commercializing the agriculture sector.

He said that Nepal could be developed as an important investment destination if international investment could be attracted in the education and health sectors. Bhatta said that the return of investment in Nepal is good and it should be publicized in the international arena. According to him, the amount of dividend that has come out of Nepal is more than the foreign direct investment that has come into Nepal in the last 6 years. He said that it would help attract more investment if the message of good investment return in Nepal could be sent to the international community.

He also stressed on the need to transform the available labour force in Nepal into human capital with skills, knowledge and skills. He said that capacity development and technical skill enhancement of the labour force would contribute to the productivity and economic growth of the country.

Vice Chairman Dr. Bhatta said that the National Planning Commission has been working keeping prosperity and good governance at the center after the formation of the new government.

According to him, the Commission has been working to prepare a long-term development roadmap regarding the direction of Nepal’s development in the next 25 years.

Stating that Nepal’s economic growth rate is very low, he insisted on the need of support and cooperation from the private sector, entrepreneurs and NRNA to expand it.

The event was organized with the objective of promoting investment, developing trade and industry sector in Nepal and contributing to the overall economy.