Kathmandu, October 3

The most modern industrial park in South Asia is going to be built in Nepal. The park is planned to build in Jhapa district with the assistance of the Chinese government.

The announcement was made at the Memorandum of Understanding (MoU) signing and Inauguration Ceremony program organized in the Capital on Thursday.

Construction of the industrial park will be in four phases covering one thousand 6 hundred hectares land area. In the first phase, construction work will be done by investing US $ 30 million.

At the inauguration ceremony, the leader of the Chinese delegation Zhou Cheng Jie said that the industrial park would be best in South Asia even in terms of work, leisure, entertainment, and culture.

The agreement was signed between Nepal Investment Board and Damak Clean Industrial Park (DCIP) for the construction of the industrial park. Govinda Thapa, chairman of the DCIP and Maha Prasad Adhikari, chairman of the Investment Board, signed the Memorandum of Understanding (MoU).

The industrial park covers the area of ​​ Damak Municipality, Gauradaha Municipality and Kamal Rural Municipality. The land acquisition process has been completed in those places and the construction process will begin soon. This is the first project to be made in Nepal under the 'Belt and Road Initiative' of China.

Speaking at the inauguration ceremony, Chairman of Industrial Park Govinda Thapa said that the industrial park will be most effective, attractive and transparent project in Nepal. He said that a new model of development will be established in Nepal after the construction of the industrial park. He said - 'Nepali had to talk about foreign development projects when talking about examples of it. Now, Damak will create a model of development that would be a proud example for Nepal and Nepali. '

Addressing the inauguration ceremony, the leader of the Chinese delegation, Zhou Cheng Jie said that the industrial park will be prepared under the model of integrated development of industry and city. He said that the industrial park would be developed as the only modern industrial area in South Asia. Tens of thousands of jobs would be created after the completion of the industrial area. He said that with the completion of an industrial park, there will be a huge revenue increment in Nepal and it will help to achieve the goal of 'Prosperous Nepal Happy Nepali'.

Likewise, the Chairman of the Investment Board Maha Prasad Adhikari said that the construction of the industrial park will contribute significantly to the development of Nepal. Similarly, Chairman of Industrial Area Management Limited, Nand Kishore Basnet, said that the industrial park being constructed in Damak would be a model project for Nepal. Basnet said that there are only hydropower projects under the PPP model in Nepal, the industrial park would be the first non-hydropower project under PPP model.