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Investors urged to support in infrastructure development

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Kathmandu, Sept 5: Minister for Finance Dr Ram Sharan Mahat on Friday underscored the need for investors to lend their support in infrastructure development for economic progress in Nepal.

In a meeting held at the Finance Ministry with country’s development partners, Minster Mahat called for support in view of the need for huge investment to realize the government’s goal of upgrading the country from the Least Developed Country (LDC) list to a developing country by 2022.

Apprising the gathering of the impending second round of economic reform programmes under the current budget –which has set a goal of attracting foreign and domestic investments in midst of growing environment conducive to business – the Minister added that the country had made policy-oriented progress in industry, business, energy, bank and financial sector.

The government is preparing for the 14th periodic plan to transform the status of Nepal to a developing country, and to discussing on a long term development goal ‘Vision 2030’, he added.

Minister Mahat further elaborated that the Commission for Investigation of Abuse of Authority (CIAA) was taking active initiation in curbing corruption and that the Ministry on its part was making efforts to win confidence of the people over state organizations.

Moreover, Minister Mahat shared that the government was successful in reaching Power Trade Agreement with India. He added that the government was committed to reaching Project Development Agreement (PDA) with Grandhi Mallikarjuna Rao (GMR) of India.

During the interaction, Prof Dr Govindaraj Pokharel, Vice Chairman of National Planning Commission urged the stakeholders to invest in Nepal without scruple reasoning that the country was embarking on a stable political path.

Nepal Rastra Bank Governor Dr Yuvraj Khatiwada also called on the investors for national and international investment as the country had already advanced on policy-oriented reforms in the financial sector.

Chiefs and representatives of 23 multi-lateral and bilateral agencies including the United Nations and its specialized agencies, World Bank Group, Asia Development Bank (ADB), European Union, Germany, Sweden, Finland, Denmark, Russia, Norway and USAID, Japanese International Corporation Agency (JICA), Korean International Corporation Agency (KOICA) took part in the interaction. (Photo Available) RSS

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