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government reiterates its focus on infrastructure development

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Kathmandu, 11 Nov 2014: The government has reiterated that infrastructure development has been given top priority so as to take the country toward economic progress by extricating it from backwardness and poverty.

Infrastructure development, including the construction of roadways, airport and power houses are the bases for attaining economic development in the country. Bearing in mind the fact that its sole efforts were not sufficient for the promotion of a broader sector like physical infrastructure development, the government has, in policy, given priority to cooperation with private sector to that end.

Promoting foreign investment in big projects of development- construction and physical infrastructure development is in the priority list of the government. It has initiated programmes of policy and procedural reforms with equal importance to bring foreign investment in the country.

The Nepal Infrastructure Conference to be organised by Confederation of Nepalese Industry (CNI) for the first time in the country with the theme of an increase of investment in infrastructure development, is set to be inaugurated by Prime Minister Sushil Koirala this evening.

It is supported by the government, International Finance Corporation, Asian Development Bank and Nepal’s development partners.

Addressing the first informal session on business possibilities in Nepal held on the sidelines of the Conference this morning, Minister for Finance Dr Ram Sharan Mahat said Nepali were excited due to the increased investment in cement factories, hydropower and telecommunications sectors during the decade-long conflict in the county.

The government was committed to promoting domestic and foreign investment and taking its outcomes to the people and the investors.  Construction of regional airports in Bhairahawa and Pokhara with the expansion of Tribhuvan International Airport, expansion of transmission line to revitalize industries which are on the verge of closure following power outage are the priority of the government, he added.  Five hundred and fifty representatives from home and abroad are taking part in the conference.  Preparation for bringing the Bhairahawa economic zone into operation within mid November reflects Nepal’s commitment to infrastructure development, he added.

The Finance Minister further shared that IFC and ADB have been granted the permission to issue the government treasury bill in local currency, e-system has been launched for the registration of new business companies and a bill on smooth operation of industries  and sustainable management of ‘trade union’ was already presented in the Legislature-Parliament.

National Planning Commission’s Vice Chair Prof Govinda Pokhrel stressed that private sector, civil society and government should have willpower, full determination and positive attitude in infrastructure development works to achieve the goals.

NPC former vice chair and Nepali Ambassador to the US Shankar Sharma sought government positive efforts to promote foreign investment in the country and motivate international development partners and investors to invest in the sector of infrastructure development.

Chairman of the Hotel Association Nepal Yogendra Shakya pointed out the need of adding aircraft for Nepal Airlines Corporation. The session would be formally begun after Prime Minister Sushil Koirala inaugurates it this evening.

In the session, experts will present papers on coordination in investment, sustainable infrastructure development, private sectors’ investment in infrastructure development in air transport and so on.  The Union Minister of Road Transport and Highways of Indian Government Nitin Jairam Gadkari will be the key note speaker in the session. RSS

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