Print Edition - 2014-11-10 | MONEY
Infra summit to bring together 550 delegates
Nov 9, 2014-
Nepal Infrastructure Summit 2014 is expected to bring together 550 delegates, including 30 experts from Nepal and abroad, the Confederation of Nepalese Industries (CNI) said on Sunday.
The event, scheduled for November 11-12 in Kathmandu, will see the participation of globally-renowned companies involved in big infrastructure projects.
Waleed Youssef Director, Middle East Region, TAV Airports Holdings, Turkey; Moazzam Meakan Manager - Europe and Central Asia, International Finance Corporation; SG Tenpe, Senior Vice-president, Business Development & Market Operations, Power Exchange India Limited; Harvinder Manocha, Chief Operating Officer, GMR; are among the foreign participants.
CNI Senior Vice-president Hari Bhakta Sharma said most of the foreign participants include those working in the areas of infrastructures development. “High-level government officials and experts will be keynote speakers,” said Sharma.
According to CNI, the event will help attract investment in the country’s infrastructure sector which has remained one of the poorest in the world. “At a time when there is a need for investment of Rs 500 billion annually, the funding gap can be fulfilled only through joint effort of the government and the private sector,” said CNI President Narendra Kumar Basnyat.
Domestic investment in the infrastructures sector is very low. As per a World Bank report published in 2013, the private sector’s investment in infrastructures stood at only 0.66 percent of the GDP. Similarly the government’s investment amounted to just Rs92 billion, according to CNI estimates.
Basnet said the summit would also focus on promoting public-private partnership for the development of infrastructure. With the entire South Asian countries having relatively poorer infrastructure, the event will also hold discussions on enhancing connectivity among South Asian countries.
“In the event, the sharing of good practices in the region could help Nepal implement the best ones, besides promoting the country as one of the investment destinations,” said Basnyat.
Bishnu Agrawal, convener of CNI’s Infrastructure Committee, said they were forming a special cell to study the “white paper” of each session. “The cell will coordinate with other stakeholders to study good practices discussed during the summit.”
Published: 10-11-2014 09:06