Confederation of Nepalese Industries Chairman Proposes $100 Billion Economy Target by 2033

Kathmandu. Confederation of Nepalese Industries (CNI) Chairman Virendra Raj Pandey has stated that the country's economy can be made a $100 billion economy within a decade.

Speaking at the 23rd Annual General Meeting of the Confederation held here today, Chairman Pandey said that studies show the country's economy can be made a $100 billion economy at current prices by 2033 and at real prices by 2039. The Confederation had conducted the study in collaboration with the Investment Board.

"According to the study conducted by more than twenty experts for about eight months, an average annual economic growth of 6 percent is necessary to achieve the target. The government has set a target of seven percent growth, while our study shows that the target can be achieved if a six percent growth is maintained in the long term."

To advance this goal, the Confederation has proposed 100 potential measures related to energy, production, tourism, ICT, agriculture, infrastructure, and institutional reform, he said. He stated that infrastructure, energy, information technology, manufacturing industry, tourism, agriculture, mining and minerals, education, and health sectors were prioritized during the study. He said that the study analyzed the effects of reforms from 2030 onwards, taking 2025 as the base year.

"The study focused on the role of the private sector, investment, job creation, and economic activity expansion. To achieve this goal, investment-friendly policies from the government and knowledge, financing, and technological support from development partners are necessary," he said.

He mentioned that factors such as poverty reduction, expansion of electricity access, hydropower potential, youth manpower, entrepreneurship, tourism, strategic geographical location, and digital capacity have strengthened this campaign.