Concentrate private investments in five key sectors for economic growth: World Bank

World Bank

Kathmandu:  An adequate investment by private sector in areas of agriculture, tourism, education, health and information technology makes the way for increasing productivity and economic growth, according to a report made public jointly by the World Bank and the International Finance Corporation.

“It will not be impossible to achieve the government’s target of creating six percent economic growth by prioritising the five investment areas,” said the report entitled Nepal Country Private Sector Diagnostics (CPSD).

The report stressed the need for institutional reforms and strengthening, construction of physical infrastructure, expansion of contact network and removal of obstacles home and foreign investment for economic development.

The report was made public amid a programme in the Capital by Finance Minister Yubraj Khatiwada. He on the occasion emphasised public-private partnership for meeting the target of economic growth.

He also stressed the need for using information and communication technology in agriculture and small and medium scale business for better production. Saying the incumbent government is on the way to the economic development, and reiterating its policy to cooperate with the private sector, he pledged to bringing reforms in financial inform and tax and administrative areas.

Likewise, Hartwig Schafer, World Bank Regional Vice President for South Asia, lauded the government’s reform policy.