President Tharman has given special suggestions to Finance Minister Khanal to increase investment in human capital, infrastructure, energy, trade, and openness.
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Finance Minister Rameshwor Khanal, who is in Washington, DC, United States, to participate in the annual meetings of the World Bank and the International Monetary Fund, met with His Excellency the President of Singapore, Tharman Shanmugaratnam, today, Kartik 1.
During the meeting, President Tharman suggested to the Finance Minister to focus investment on human capital, infrastructure, energy, trade and openness for the country's rapid economic development.
Finance Minister Khanal said that the Government of Nepal is working with the goal of focusing on economic development by maintaining good governance in line with the wishes of the youth.
Finance Minister Khanal also interacted with officials including the Vice President of the International Finance Corporation (IFC) today. On the occasion, he appreciated the fact that the International Finance Corporation is increasing its investment in Nepal.
Finance Minister Khanal said that he expects the Corporation's additional investment and technical assistance in the development of the private sector and competitiveness in Nepal. Officials of the International Finance Corporation informed that the Corporation's investment in Nepal will be increased and that there is a need for reform in some legal and regulatory arrangements to increase the inflow of international capital.
In response, Minister Khanal stated that the regulatory arrangements will be improved immediately and assured that necessary preparations will be made for legal reforms.
