A delegation from the World Association of Public-Private Partnerships Units and Professionals (WAPPP) led by its President Ziad-Alexandre Hayek paid a courtesy call on Prime Minister Sher Bahadur Deuba, today. A three members delegation has discussed accelerating PPP projects for enhancing the access and quality of the public service delivery and attracting private investment citing Nepal's aspiration to be a developed and prosperous country.
The delegation highlighted that realizing PPP projects could be the best solution for Nepal to move forward toward a higher growth trajectory bridging the yawning resource gap required for infrastructure financing. The delegation has appreciated the initiative taken by the Government of Nepal so far in the front of attracting investments with having proper legal and institutional arrangements and advised it to be a competitive investment destination in terms of investment facilitation.
Stating that the PPP itself has complexities to deal with the delegation underlined the urgent need for capacity enhancement of the PPP nodal agency, i.e., the Office of the Investment Board Nepal (OIBN) to deal with the financial, legal, technical, environmental, social, political, program, project and international scenario for effective execution of PPP projects. The WAPPP delegation has expressed strong commitment for their continued support in streamlining the PPP process and strengthening the institutional capacity of the Office of the Investment Board Nepal, a member of the WAPPP network.
On the occasion, the CEO of the Office of the Investment Board Nepal, Mr. Sushil Bhatta highlighted that the country has given high priority to PPP investments through legal and institutional arrangements for facilitating such investments. Stating that the Office of the Investment Board Nepal has approved investments worth NRs. 10.4 trillion for 33 investment projects, Bhatta further said the OIBN has set a target to approve investments worth USD 10 billion by 2025-26 as envisioned by its Strategic Plan.
Addressing the delegation Prime Minister Sher Bahadur Deuba underlined the importance of PPP investment projects in different verticals including clean and renewable energy; sustainable and resilient tourism, ICT, education and health infrastructures; safer urban infrastructures, clean transport, and tunnels/roads, manufacturing, agro-processing and among others. Stating that Nepal is an emerging investment destination, Deuba urged the members of the delegation to convey the message amongst prospective investors across the world as the goodwill ambassador of Nepal and partner with the country progressing towards prosperity through sharing their vast knowledge and diverse experience.
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