The ongoing Third Investment Summit in Kathmandu witnessed a significant milestone as the World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) signed a Memorandum of Understanding (MoU) to foster bilateral cooperation in the realm of public-private partnerships (PPP).
The MoU, signed by WAPP President Ziad-Alexandre Hayek and NAPPP Chair Anup Kumar Upadhyay, aims to facilitate collaboration between the two organizations on matters of mutual concern and the exchange of knowledge and experiences regarding PPP projects and programs.
Among the key areas of cooperation outlined in the MoU are the strengthening of physical infrastructure and PPP pipelines, preparations of PPP projects and programs, and joint efforts for the promotion of international exercises in implementation. Additionally, hosting joint gatherings and assemblies, as well as the publication of joint journals, are part of the collaboration agenda.
Expressing optimism about the partnership, NAPPP Chairperson Anup Kumar Upadhyay stated that the collaboration between WAPP and NAPPP would enhance Nepal’s knowledge and capacity regarding PPP, thereby strengthening PPP projects in the country. This aligns with Nepal’s efforts to attract foreign direct investment (FDI) and foster sustainable development through public-private collaborations.
WAPP President Ziad-Alexandre Hayek commended Nepal’s extensive experience in implementing PPP-based projects, particularly in the hydropower and clean energy sectors, stating that Nepal’s practices and experiences are exemplary. He emphasized the potential for knowledge-sharing and best practices exchange between the two organizations.
Headquartered in Geneva, Switzerland, WAPP is a global non-governmental organization dedicated to helping its members achieve professional goals and promoting best practices in PPP aligned with the United Nations Sustainable Development Goals (SDGs).
On the other hand, NAPPP brings together practitioners, professionals, and members from multiple sectors to promote collaboration, innovation, and efficiency in public-private partnerships and investment to contribute to sustainable development in Nepal.
In another development during the summit, Sakha and Company Private Limited and Anforman Group, along with BORE Hotel, China, inked an agreement worth Rs 100 million for cooperation in the hotel business, further demonstrating the growing interest of foreign investors in Nepal’s tourism and hospitality sectors.
As Nepal continues to prioritize economic growth and development, the collaboration between WAPP and NAPPP is poised to play a crucial role in fostering public-private partnerships, attracting foreign investment, and promoting best practices in project implementation, thereby contributing to the country’s sustainable development goals.
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