Nepal Infrastructure Summit Concludes: Increase in Infrastructural Investment Stressed

February 21: Nepal Infrastructure Summit 2017 has stressed on requirement of building big infrastructure for the economical development of the country. The summit that was organised by Confederation of Nepalese Industries (CNI) concluded on Monday, February 20. The summit interpreted that the current investment of the country in infrastructure is insufficient, thus it stressed on increase in infrastructural investment.

During the summit, Vice President and Home Minister Bimalendra Nidhi said that the developmental infrastructure is the foundation of the overall prosperity of the country. "Infrastructural development is the vital factor in order to make Nepal a developing economy by 2030. In this regard, adequate development of superior infrastructure is the only option," he said. Stating that the government is exercising in the construction of investment friendly environment for the private sector, he mentioned that the government expects support from the private sector in the construction of national prioritised projects.

Som Lal Subedi, General Secretary of the government opined that such programs play significant role in achieving national developmental target. He reiterated that the construction of infrastructure is the foremost priority of the government and support from the private sector is crucial. "Presently, less than five per cent of gross domestic product is being spent on infrastructure which needs to be increased to 8-9 per cent to maintain high economic growth," he added.

Hari Bhakta Sharma, President of CNI said that Nepal lags behind in terms of gross domestic product, international trade and industrial development. "We should carry out necessary steps to build prosperous Nepal in our time. For that, development of infrastructure is invincible," Sharma said.