President of Consideration of Nepalese Industries (CNI), Haribhakta Sharma said that Nepal Infrastructure Summit 2017 was a great success to lure the investors, experts and policy makers.
“Nepal should focus on rail network as it is cheaper and greener. Kathmandu – Delhi and Kathmandu – Kolkatta could be the possibility,” said Hari Bhakta Sharma president of CNI.
“The Summit discussed on issues that shape incentives for investment and enable the private sector to become an indispensable ally in infrastructure-led economic growth. The Summit focused on the strategic vision of the country, policy and regulatory enablers, value proposition, competitiveness, among others,” said Sharma attending the press meet.
“There were eight different sessions including two parallel ones. More than 450 individuals from 15 different countries participated in the Summit. There were around 70 speakers in the panel who shared their invaluable experiences and provided insights into the infrastructure needs of the nation,” said Sharma.
CNI also said that the government must establish a clear vision for the infrastructure needs of the country beyond 2022 and ensure that plans, strategies and policies prepared by line ministries and departments are aligned with due inclusion of the role of private sector.
“Nepal has performed well in social development and now it is the high time to focus more on the infrastructure led economic development. Nepal has a tremendous potential for growth and private sector has humongous opportunity for investment in various sectors. Given the Nepal’s infrastructure gap, the investors not only benefit from current growth but can capture the future growth,” said Sharma.
Nepal needs to leverage the benefit of having economically powerful neighbors like India and China. Nepal as a country must keep its eyes focused on the Megatrends and align its policies and programs accordingly.
Connectivity especially railway, road and Airports are fundamental for Development. Nepal should take advantage of China’s One Belt One Road (OBOR) policy to integrate Nepal with the regional economies.
CNI also urged government to initiate Joint regional projects in the Himalayan region with due attention to curb the effects of climate change, support biodiversity and generate employment. Multilateral development banks such as ADB should support Nepal in acquiring climate finance to build green and resilient infrastructure.
Establish of Project Bank to show the private sector, that there is a line of sight to the large number of investment ready pipeline projects that enables the investors to take the projects seriously.