Nepal projects its potential in PPP investment
Kathmandu, July 21
Prime
Minister Sher Bahadur Deuba has said that Nepal has a huge potential for
investment in public private partnership (PPP) model in traditional as well as
new areas of business, industry and infrastructure.
Nepal
offers a great potential of PPP investment in the sectors of clean and
renewable energy, sustainable tourism and health, education, information
technology, safe urban infrastructure, electric transportation, tunnels, roads,
industrial production and agricultural processing, he said at a meeting with a
delegation of World Association of PPP Units and Professionals (WAPPP) on
Thursday.
According
to the Spokesperson of the Investment Board of Nepal (IBN), Amrit Lamsal, PM
Deuba said that he is willing to take advantage of the expertise of WAPPP to make
the PPP project investment feasible in Nepal.
He
asked the delegation to take the message of Nepal as an emerging destination
for investment and become a partner in Nepal's journey towards prosperity as a
goodwill ambassador.
The
three-member delegation of the WAPPP, led by its President Ziad-Alexandre
Hayek, paid a courtesy call to PM Deuba on Thursday afternoon.
Hayek
said that by implementing projects with infrastructure and other business
potential through PPP, the government's service delivery can be made more agile
and standard.
He
mentioned that by attracting domestic and foreign direct investment (FDI), the
basis for sustainable and inclusive economic expansion will be prepared.
Appreciating
the efforts made by Nepal through the legal and institutional arrangements
related to PPP and investment to fill the gap of resources and achieve the
benefits of economic development through public-private partnership, the
delegation emphasized that Nepal should create a competitive environment in
facilitating investment under PPP.
Although
PPP is an attractive concept, it is a complex subject in itself, effective
results can only be obtained from efficient comparison of its various aspects
such as financial, legal, technical, environmental, social, political, project,
local and international scenario. So, the capacity development of organizations
working in the field of PPP should be done accordingly, the delegation
suggested.
The
delegation has expressed its commitment that since the IBN is a member of
WAPPP, it is always ready to extend its assistance to Nepal.
Meanwhile,
Chief Executive Officer of the IBN, Sushil Bhatt who was present during the
call, said that the WAPPP has supported in the development of institutional and
business capacity of the IBN.
According
to him, in its strategic plan, the board has set the target to approve
investments equal to US$ 10 billion by 2025/26.
Published in The Rising Nepal daily on 22 July 2021.
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