Kathmandu: A delegation from 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 on Thursday.
A three-member delegation discussed accelerating public private partnership (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 towards the higher growth trajectory bridging the yawning resource gap required for infrastructure financing.
The delegation also appreciated the initiative taken by the government in attracting investments with proper legal and institutional arrangements.
Stating that the PPP itself has complexities to deal with, the delegation underlined the urgent need of capacity enhancement of the PPP nodal agency–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 also expressed strong commitment for their continued support in streamlining the PPP process and strengthening the institutional capacity of Office of the Investment Board Nepal, member of the WAPPP network.
During the meeting, CEO of the Office of the Investment Board Nepal, Sushil Bhatta, highlighted that Nepal has given high priority for PPP investments through legal and institutional arrangements for facilitating such investments. Stating that the Office of the Investment Board Nepal has approved investment of Rs 10.4 trillion for 33 investment projects, Bhatta further said the OIBN has set a target to approve investment of USD 10 billion by Fiscal Year 2025-26 as envisioned by its Strategic Plan.
Likewise, 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, 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 the 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.