FDI must to develop hydel projects: FNCCI chief

President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Suraj Vaidya stressed on foreign investment for the large scale hydropower projects in the country.
"To be self-reliant in power, the country has to lure foreign investment for the construction and operation of big hydropower projects," he said at a programme in Chitawan's Narayangadh.
Stating that industries and factories are incurring heavy losses due to long hours of power outage, Vaidya called on the government to do needful to attract foreign investors in the sector.
On the occasion, Vaidya also proposed to develop Chitawan as a medical city. "FNCCI is ready to extend any kind of support to develop Chitawan as a model district by declaring the district a medical city," he pledged.
Meanwhile, the World Bank is organising a regional workshop to share knowledge on management of land acquisition, resettlement, rehabilitation and benefit sharing in infrastructure development like hydropower projects.
"The first of its kind of South Asia workshop in Kathmandu on January 18-19 will discuss the common problems of the region, while developing the big infrastructure like hydropower and learn the lessons for the future," said Lead social development specialist of the World Bank Chaohua Zang.
Despite huge, infrastructure gap and potential, South Asia is the least resource sharing region, he added.
Nepal can benefit from the knowledge sharing, he said, adding that the big projects should help reduce poverty in the region but there are cases that have helped fuel poverty due to traditional development approach.
Unlike earlier, compensation alone is not enough for the affected populace forcing the World Bank to adopt the new development approach, according to him. “It has to be a win-win situation.”