Saudi Arabia urged to invest in Nepal's infrastructure

KATHMANDU, AUGUST 24: Nepal has asked for Saudi Arabian investment in its infrastructure sector. 

 During his meeting yesterday with  Saudi Arabia's Ambassador to Nepal, Saad Nasser Abdullah Abu Haimed, Minister for Physical Infrastructure and Transport, Prakash Jwala came up with such an appeal. 

 "Nepal is well on track to graduate from the least developed country category by 2026. We need more bilateral cooperation in the form of investment in infrastructural development to ensure the sustainability of this graduation. In this regard, I  request your country to help fulfill this need," he told to the envoy.

In response, the Saudi Arabian ambassador expressed readiness to cooperate with Nepal. He also urged Nepal to present a substantive proposal outlining the specifics of the support it is seeking.

 During the meeting, the minister also made it a point to acknowledge the current role being played by  Saudi Arabia as a major labour destination for Nepali youths.  Approximately 400,000 migrant workers of Nepal are presently part of the labor market of this gulf nation. 

Similarly, the Minister conveyed that Nepal has endorsed Saudi Arabia's bid to host the World Expo in 2030.