“We want private sectors of both Nepal and Japan to work together and series of meetings have already been held so far to seek areas of cooperation for the development of Nepal´s private sector. We are also interested to support private sector in Nepal through ODA,” said Kunio Takahashi, ambassador of Japan for Nepal.[break]
In a meeting with the private sector leaders on Sunday, Takahashi said that the Japanese government has been evaluating the effectiveness of existing ODA for Nepal.
Ambassador Takahashi also revealed that Professor Ryokichi Hirono of Seikei University of Japan was carrying out the evaluation of the ODA.
The Japanese embassy had initiated process of establishing a forum of private sector of the two countries few months back. However, the process couldn´t go ahead after abrupt political change in Nepal following the dissolution of Constituent Assembly in May.
“We are again working on establishing a forum for private sectors of the two countries,” Takahashi said.
A meeting held among Takahashi, Prog Hirono and Suraj Vaidya, president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) focused on the role of private sector and prospects of investment in the country.
On the occasion, Professor Hirono, called for increased saving at people level to increase investment source within the country as evidenced in Japan,Singapore and Thailand.
“There should be saving in people´s side and that should come as a sustainable investment source in the country,” Hirono said.
He categorically identified five core areas-- political stability, investment in human capital development, saving of the people, policy consistency in the government and collaboration among stakeholders of development as the crucial sector for development.
He also stressed on the need for collaboration among five major stakeholders such as government, business people, labor unions, consumers and academics to successfully implement the development efforts.
Vaidya, said the government should bring a full-fledged budget irrespective of any political situation in the country to ensure the proper utilization of foreign assistance.
Prof Hirono also suggested that the government issues national bond in order to utilize the remittance that the country receives from overseas workers.
“Issuing national bond could be a better instrument to streamline the remittance money in the productive sector of the country,” Hirono said.
Japan government, through Japan International Cooperation Agency (JICA) has been assisting Nepal in areas such as infrastructure development, power generation, water supply, improving public administration, education and health among others.
According to Ministry of Finance, Japan extended cooperation worth Rs 30 billion during 2001 to 2010 in three sectors-to support transport infrastructure, power generation and water supply in Nepal
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