BOAO (HAINAN), March 25: Prime Minister Pushpa Kamal Dahal took to the Boao Forum on Saturday to push for international investment in Nepal’s untapped sectors including hydropower, infrastructure development and tourism.
A keynote speaker at the opening ceremony of the Boao Forum for Asia (BFA) Annual Conference 2017 Dahal said that accelerating economic growth and development is Nepal’s top priority, particularly after overcoming “many political milestones”.
“Nepal has entered into the phase of economic transformation, crossing many political milestones. Our priority now is to accelerate economic growth and development. I would like to invite Asian business community to invest in various profitable sectors including hydropower, infrastructure development and tourism in Nepal,” he said.
He stressed Nepal’s virgin sectors for investment and its border markets with two of Asia’s largest economies- China and India- and the prospects of developing Nepal as a trade hub.
“We have rich resources and many of the sectors are virgin in terms of investment and are equally profitable. Our domestic market and the location among the largest economics of Asia—China and India—bears an immense prospect to establish Nepal as a trade hub, a vital link in global chain. We can realize the potential of my country as well as our continent by making globalization work for all,” he added.
His keynote address was part of his seven-day visit to China- his first since becoming prime minister for the second time last year. On Friday, he met Chinese Vice Premier Zhang Gaoli in Boao and will meet Chinese President Xi Jinping on March 27. He is expected to discuss about various bilateral issues including One Belt and One Road initiative.
The Boao forum theme in 2017 is Globalization and Free Trade: The Asian Perspectives.
He also said that Asian countries should strive for inclusive globalization so that lesser developed countries like Nepal can benefit equally.
“To create a healthier world, we must strive for inclusion not isolation, partnership not protectionism, bridges not barriers, freedom while trading not fears. This can only lead to shared Asian prosperity,” he said.
He said that for a country like Nepal, which is least developed and landlocked, enhancing market access through duty free quota, free provisions, streamlined and simplified rules and procedures, trade capacity building as well trade facilitating measures including smooth transit arrangement could be essential for them to benefit from globalization.