Prime Minister Sher Bahadur Deuba has said that Nepal has a huge potential for investment in public private partnership (PPP) model in the traditional as well as new areas of business, industry and infrastructure.
Nepal offers a great potential for 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 Spokesperson for the Investment Board of Nepal (IBN) Amrit Lamsal, Prime Minister Deuba said that he was 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 could 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 legal and institutional arrangements related to PPP and investment to fill up the gap of resources and achieve the benefits of economic development through public-private partnership, the delegation emphasised 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 scenarios. So, the capacity development of the organisations 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 courtesy call, said that the WAPPP has supported 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.
Source : TRN,
