Experts urge higher investment in infraTwo-day Nepal Infrastructure Summit 2017, which saw participation from around 400 business personalities from different parts of the globe, concluded here on Monday.
Two-day Nepal Infrastructure Summit 2017, which saw participation from around 400 business personalities from different parts of the globe, concluded here on Monday.
In his valedictorian speech, Deputy Prime Minister and Home Minister Bimalendra Nidhi requested domestic and international investors to invest in Nepal’s infrastructure development.
Nidhi said the government is committed to building infrastructure under the public private partnership (PPP) model. “We have already endorsed the PPP Policy and are in the process of bringing the PPP Act. We have also amended the Public Procurement Act,” he said. “This will create favourable investment climate in Nepal.”
Underscoring the importance of private sector investment, he said public investment alone is not enough to fill the huge infrastructure gap in Nepal. “Therefore, investment from national and international private sector is a must to unleash development in Nepal,” he said.
Speaking at the event, Chief Secretary Som Lal Subedi urged the private sector to increase investment in infrastructural development. “There are a lot of virgin areas to make investment,” said Subedi. “We request you to increase investment in infrastructure while we will give continuity to policy reforms making the environment suitable for investors.”
The two-day summit, which kicked off on Sunday, was organised by the Confederation of Nepalese Industries (CNI) in association with the government and Youth Community for Nepalese Contractors (YCNC).
Majority of the participants urged the government as well as the private sector to increase investment in infrastructure sector.
They urged Nepal to increase its infrastructure investments from 4 percent of GDP in the last 15 years to 8-12 percent of the GDP by doubling or tripling it from the present level.
Indian Railways Minister Suresh Prabhakar Prabhu expressed his interest in linking Kathmandu with two Indian cities—New Delhi and Kolkata—using direct railway lines in a bid to strengthen cross-border connectivity and facilitate movement of people between the two countries.
Terming infrastructure as prerequisite for higher economic growth, Prabhu urged the Nepal government and the private sector to ramp up investment in construction of physical infrastructure. Requesting foreign investors to invest in Nepal’s infrastructure development, he said such investment will offer double benefit to them.
NEA boss Ghising felicitated
KATHMANDU: Organisers of Nepal Infrastructure Summit 2017 on Monday felicitated Nepal Electricity Authority (NEA) Managing Director Kulman Ghising for his contribution in eliminating long hours of power cuts in the Kathmandu Valley. NEA chief Ghising was awarded with “Infrastructure Contribu-tor of the Year Award” by Deputy Prime Minister and Home Minister Bimalendra Nidhi at the closing session of the summit.