Minister Joshi urges int'l community to invest in Nepal

Kathmandu, Nov. 22

Minister for Industry Nabindra Raj Joshi Tuesday said that United Nations Industrial Development Organisation (UNIDO) should be able to tailor inclusive and sustainable industrialization policy and strategy commensurate with the developmental need of every member country in conformity with the objectives of the Sustainable Development Goals (SDGs).

Addressing the opening ceremony of the 44^th session of the UNIDO Industrial Development Board in Vienna, Austria, he said, “The technical assistance programme of UNIDO, in particular, should be made more responsive to the various scopes and opportunities available in the member countries.

Saying that the least developed countries (LDCs) like Nepal aspired to achieve industrialization at a more rapid and sustained pace to bring meaningful transformation in their social and economic life, Minister Joshi called for a strengthened global partnership and support for LDCs in taking effective measures to remove the weakness and constraints in their economies, manage internal and external vulnerabilities they face and attain structural transformation of their economic system.

He said that industrialization was the most crucial vehicle to achieve the end goals of poverty eradication, decent job creation, inclusive economic growth and shared prosperity.

“Nepal harbors very rich biological diversity and fresh water resources – major sources for renewable energy. We are keen to make sure that these two important resources are properly utilized as important inputs for inclusive and sustainable industrialization,” reads the Minister statement sent to media by his press advisor Pradeep Chapagain.

He informed the meeting that the country adopted a very liberal and competitive foreign investment policy regime to attract investments in infrastructure development and industrial venture.

“We expect more substantive foreign direct investment inflows and technology transfer into Nepal. For this, we look forward to strengthening our partnership with the entire spectrum of development partners,” he said.