Kathmandu. August 15. The Confederation of Nepalese Industries (CNI) believes that the country's overall development can be achieved through sustainable infrastructure. Investment in infrastructure is necessary to achieve high economic growth. The fourth edition of Nepal Infrastructure Summit (NIS 2022) is going to be organized jointly by the Ministry of Physical Infrastructure and Transport, Government of Nepal and the Confederation of Nepalese Industries on September 8 and 9, 2022. The co-organizers of the conference are the Office of the Investment Board of Nepal and Youth Community for Nepalese Contractors.
The aim of the conference is to review the last three infrastructure conferences by identifying major obstacles to infrastructure development including transport, energy, urban development, drinking water and sanitation, to stimulate the government's promises and reforms for infrastructure development, to attract private investment in the infrastructure sector, and to prioritize green, climate and resilient infrastructure projects that help achieve the Sustainable Development Goals (SDGs).
The theme of the conference is "Infrastructure for Growth" as the theme of development. Nepal's economic growth contracted by 2.37 per cent in 2019/20 due to covid-19 after the first year of conference. As economic activity came to a global standstill, the world faced severe supply disruptions. Nepal has set a target of achieving 8 percent economic growth in the fiscal year 2022/23. Investment in infrastructure is imperative for post-COVID-19 stimulus and high-digit economic growth. NIS 2022 seeks to reinforce the notion that economic revival, focusing on green infrastructure and investing in infrastructure is the best bet.
At a time when global capital shortages and rising interest rates pose additional challenges in mobilizing resources for investment in the infrastructure sector, NIS 2022 will seek to bridge this gap through dialogue by taking local and international investors into confidence and focusing on innovative financial tools and frameworks.
We believe that the conference will revive the concept of policy reforms on issues such as innovative financial framework, foreign direct investment, and greater involvement of the private sector, technology and digital transformation. Discussions will be held among national, international infrastructure experts, investors, representatives of all three levels of government and private sector on issues such as promotion of investment for infrastructure and obstacles in the development of infrastructure sector.
Prime Minister Sher Bahadur Deuba will inaugurate the conference. Indian Minister of State for Road, Transport and Highways Bijay Kumar Singh, Finance Minister Janardan Sharma, Minister for Communications and Information Technology Gyanendra Bahadur Karki, Minister for Physical Infrastructure and Transport Mohammad Ishtiaq Rai, Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha, Minister for Industry, Commerce and Supplies Dilendra Prasad Badu are the special guests of the conference.
Similarly, former prime ministers, chief ministers of all seven provinces, mayors of metropolitan cities, national and international experts in infrastructure sector, vice-chairmen of Asian Development Bank and professors will make presentations in different sessions of the conference. More than 600 participants from 25 countries are expected to participate in the conference to be sponsored by Sagarmatha Cement.
The Confederation of Nepalese Industries (CNI) had organised the first Nepal Infrastructure Summit in 2014 on the theme 'Rapid Investment in Infrastructure'. The theme of the second summit held in 2017 was "Private Sector Indispensable Partner" and the 3rd Nepal Infrastructure Conference of 2019 focused on Flexible Infrastructure for Sustainable Development".