Minister for Industry, Commerce and Supplies, Matrika Prasad Yadav, has said the least developed and landlocked countries need additional mobilisation of resources to spur development activities and to achieve Sustainable Development Goals (SDGs).

The minister said this at an event titled ‘Promoting Foreign Direct Investment to Least Developed Landlocked Developing Countries’ (LLDCs) in Geneva on Thursday.

United Nations Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (UN-OHRLLS) organized the event.Minister Yadav said countries like Nepal that are in both groups of LDCs and LLDCs need extra resources to upgrade from the status of least developed country.

Ministers from LLDCs participating in the World Investment Forum (WIF) attended the meeting and expressed their views at the event.

The minister spoke of the important role of FDI to bridge the resources gap and bring in innovative, efficient, technologically sound ways and means for economic transformation.He said the Government of Nepal is guided by the long-term perspective of “Prosperous Nepal, Happy Nepali”. He highlighted important features of investment and business friendly policies and institutional and procedural reforms undertaken in Nepal.

He mentioned the positive economic growth trend observed in the country since the last fiscal year and said the government is focusing on development and upgrading of development infrastructure and power connectivity to accelerate this growth trend.

Ministry of Industry, Commerce and Supplies Secretary Yam Kumari Khatiwada participated as a panelist in the Women’s Empowerment Session.In her remarks, she elaborated the measures taken by Government of Nepal to achieve Sustainable Development Goals (SDGs) 5 – which deals with gender equality and empower all women and girls, and progress made for the empowerment of women in Nepal.

Stating equality begins with economic empowerment, she stressed the importance accorded by Nepal for the development of women entrepreneurship through various affirmative measures.