Nepal Calls for Global Investment in Infrastructure to Boost Economy

Prime Minister K P Sharma Oli has urged both national and international private investors to invest in Nepal's infrastructure sector to boost the economy. Speaking at the opening of the two-day Nepal Infrastructure Summit 2024, Oli emphasised the government's commitment to infrastructure development, highlighting that private sector participation is crucial.

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Government's Commitment to Infrastructure

Oli stated that the government prioritises infrastructure development but cannot achieve it alone. "The government is always ready to provide handholding services to investors, whether they are national or international," he said. He stressed that collaboration with the private sector is essential for realising the vision of a "Prosperous Nepal and Happy Nepali."

The prime minister outlined key areas needing investment, including roads, power transmission, urban planning, and aviation infrastructure. He noted that these projects must be environmentally sustainable as they progress. "As we embark on building new roads, bridges, urban transport system, and energy systems, we must ensure that these developments are environmentally sustainable," he remarked.

Encouraging Private Investment

Oli highlighted that Nepal's policies are designed to welcome private investments. "We need private investment to improve our economy. Our policies and practices are perfectly aligned to welcoming private investments in Nepal," he pointed out. The prime minister reiterated that the government alone cannot meet the extensive infrastructure needs and called for private sector involvement.

The summit aims to attract investments by showcasing opportunities in Nepal's infrastructure sector. Oli assured potential investors of the government's support and readiness to facilitate their ventures. "Together, we can build infrastructure that reflects our values, our aspirations, and our commitment to ‘Prosperous Nepal and Happy Nepali’," he remarked.

Focus Areas for Development

The prime minister listed several priorities for the government, including good roads, robust power transmission infrastructures, well-organised cities, and improved aviation facilities. He emphasised that these developments are necessary for economic growth and improving citizens' quality of life.

In conclusion, Prime Minister Oli's call for private investment underscores the importance of collaboration between the government and private sector in developing Nepal's infrastructure. The government's readiness to support investors aims to create a conducive environment for economic growth and sustainable development.