E-Kantipur

KATHMANDU, MAR 18 - The Government is considering inviting private sector participation for the smooth execution of the much-talked Economic Diplomacy (ED), an initiative taken by the Ministry of Foreign Affairs.

The public-private partnership approach to expand ED and attract global investment and attention to Nepal were the major objectives of Nepal's ED.

A separate Economic Development Fund will be set up after the government and the private sector endorse the framework of the fund. "It has not yet been decided how much money will be invested however, both sides have agreed to put some amount as 'seed money'," said Chiranjeevi Nepal, advisor to the Deputy Prime Minister and Foreign Minister Sujata Koirala said.

A High-level meeting on ED led by Deputy Prime Minister and Foreign Minister Sujata Koirala on Wednesday took a call in this regard and a separate Economic Diplomacy Programming Committee has been constituted under the leadership of industrialist and lawmaker, Binod Kumar Chaudhary. The committee will bring some concrete programmes to smooth execution, according to Chaudhary.

Secretaries from various ministries like Energy, Industry, Foreign Ministry, Tourism, and Joint Secretaries from Finance and Commerce were present during the deliberation on ED.

The private sector has been calling for the promotion of ED to promote trade, tourism, boosting exports and other economic related issues.  The Ministry of Foreign Affairs has tripled the budget for ED in the current fiscal year.

Posted on: 2010-03-18 12:00

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