Nepal | September 26, 2020

Nepal poised to become fastest growing economy: Oli

Himalayan News Service
Share Now:

Prime Minister KP Sharma Oli speaks at a televised session on ‘Strategic Outlook on South Asia’ as a panelist at the 49th Annual Meeting of the World Economic Forum in Davos, Switzerland, on Tuesday, January 22, 201p. Photo: WEF videograb

Kathmandu, January 22

Prime Minister KP Sharma Oli today said Nepal would become one of the fastest-growing economies in the next few years.

Speaking at a televised session on ‘Strategic Outlook on South Asia’ as a panelist at the 49th Annual Meeting of the World Economic Forum in Davos, Switzerland, Oli said Nepal earlier lagged behind in terms of economic growth because of long political instability, but now the country was focusing on rapid economic development with political and policy stability in place.

“To materialise our motto of ‘Prosperous Nepal, Happy Nepali’, we have introduced new policies and reforms in all economic fields,” said Prime Minister Oli, adding that Nepal was also giving due priority to social justice and empowerment of all sections of society along with economic development.

Stating that Nepal had more than 60 per cent of working population, the prime minister said that Nepal had prioritised all private, public and cooperative sectors for job creation. “A huge number of Nepali people are outside the country in search of jobs, we want to bring them back,” said Oli.

To create jobs, Nepal needs foreign investment in the productive sector, and Nepal is ready to facilitate such investment, according to the prime minister.

Oli also said that Nepal was located between two huge Asian markets — India and China — and it had developed connectivity with both countries with plans afoot to develop railways and inland waterways linking the three countries.

The prime minister also emphasised how important the issue of climate change was for Nepal, given that 45 per cent of the country was covered with forests and 15 per cent with mountains covered with thick snow. “We are conscious about the 60 per cent of our land which makes immense contributions to mitigating climate change effects,” Prime Minister Oli said.

PM Oli added that South Asian region, spanning from the top of the world to the Bay of Bengal and Indian Ocean, had a huge potential given the excellent diversity, fertile and young population. “For regional development, we have to create a win-win situation for all,” he said.


A version of this article appears in print on January 23, 2019 of The Himalayan Times.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Body of 12yo girl found in a temple in Bajhang; rape-murder suspected

BAJURA: The body of a 12-year-old girl was found in a temple in Masta Rural Municipality-2 of Bajhang district on Thursday night. The deceased was a resident of Khikala village. Police suspected that the girl may have been murdered after the culprit/s raped her as the clothes in the lower par Read More...

Abiding by COVID-19 curbs, Australian school kids protest in opposition to gas

SYDNEY: Thousands of Australian students on Friday protested to demand investment in renewable-energy projects, though COVID-19 restrictions confined the events to small gatherings and online activism. About 500 protests were held across Australia, with other demonstrations expected worldwide o Read More...

India Cricket, Cricket, Anil Kumble, India coach

Punjab spinner Bishnoi lauds Kumble influence

Kings XI Punjab spinner Ravi Bishnoi hailed the influence of head coach Anil Kumble after he and fellow wristspinner Murugan Ashwin picked up three wickets each to beat Royal Challengers Bangalore by 97 runs in the Indian Premier League on Thursday. The Challengers boast batsmen of the calibr Read More...

One-Day International Series, India, Australia, Kane Richardson

Australia's Afghanistan test, one-day series v New Zealand postponed

MELBOURNE:  Australia's one-off test against Afghanistan and one-day series against New Zealand have been postponed to the 2021-22 season due to scheduling "complexity" during the COVID-19 pandemic, Cricket Australia (CA) said on Friday. Australia were to play their first home test against A Read More...

SKorean boyband BTS cancels October concert over coronavirus

SEOUL: K-pop boyband BTS cancelled on Friday a concert set for October in the South Korean capital of Seoul as authorities battle a stream of new coronavirus infections, imposing tougher curbs ahead of a surge in travel during a key autumn holiday. This month, BTS became the first Korean pop Read More...

AstraZeneca gets partial immunity in low-cost EU vaccine deal

EU states to pay part of legal bill in case of problems AstraZeneca got partial waiver for low vaccine price Sanofi not granted a cost cap as price is higher: source BRUSSELS: European governments will pay claims above an agreed limit against AstraZeneca over side-effects from its pot Read More...

Greta Thunberg and youth climate protests make a return

STOCKHOLM: Teenage environmental activist Greta Thunberg is back. She joined fellow demonstrators outside the Swedish Parliament on Friday to kick off a day of socially distanced global climate protests. "The main hope is, as always, to try to have an impact on the level of awareness and public o Read More...

South Korea govt proposes reforms in EPS regulations

SEOUL: The government of South Korea has presented a proposal in parliament through the Ministry of Labour to amend some points in the existing regulations to revise Employment Permit System (EPS) laws. As per the proposed laws, the worker who has changed the place of work can easily get re-emplo Read More...