Two more MoUs signed at Nepal Investment Summit

KATHMANDU: Two memoranda of understanding were signed at the ongoing Third Investment Summit 2024 in Kathmandu today, in the presence of Finance Minister Barsha Man Pun.

The first MoU was signed between the Nepalese Association of PPP (NAPPP) and the World Association of PPP Units and PPP Professionals (WAPPP).

The agreement was signed by WAPPP President Ziad Alexandre Hayek and NAPPP Chairperson Anup Kumar Upadhyay.

The agreement stipulates that both organisations will cooperate on issues of mutual interest and exchange knowledge and experience related to PPP. Both organisations have agreed to strengthen physical infrastructure and the PPP pipeline in Nepal, promote international best practices in PPP projects, prepare and implement programmes, jointly organise meetings, summits and seminars, and prepare joint publications.

NAPPP Chairperson Upadhyay stated that this collaboration will enhance knowledge, experience and capacity related to PPP in Nepal, as well as strengthen PPP projects. “This agreement has opened the door for cooperation with WAPPP, which has extensive experience, research and practical knowledge in the field of PPP and has established a global identity as a specialised organisation,” he said.

WAPPP President Hayek noted that Nepal has extensive experience in implementing PPP projects, particularly in the field of hydropower and clean energy. He stated that PPP has brought about transformation in Nepal and that Nepal’s own experience is also unique.

The second MoU was signed between Saakha & Co and the BOAR Group of Hotel Hong Kong. BOAR will invest RMB100 million in a wellness hotel project in Gorusinghe, Kapilvastu.

On this occasion, a handbook for Indian investors investing in Nepal, published by the Nepal-India Chamber of Commerce and Industry (NICCI), was also unveiled.

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• Nepal Investment Summit: Two agreements signed