Kuwait, S Arab to invest in Nepal

Kuwait and Saudi Arab have shown interest in investing in Nepal, according to finance minister Barsha Man Pun.
Saudi Arab and Kuwait have shown interest in investing in hydropower, agriculture and road, he said, while talking to the journalists at the Tribhuvan International Airport (TIA) after his return from the six-day visit of these countries.
Kuwait has committed to help construct Budhi Ganga in grant, he said, adding that the 30-MW hydropower project is estimated to cost Rs 4 billion.
He met with the finance minister, officials of Kuwait Development Fund and Kuwai Chambers of Commerce during his visit to Kuwait. "Kuwait is ready to help in agriculture sector," he added.
Kuwait is one of the major Nepali migrant workers host countries, and it is ready to enter into Labour Agreement with Nepal, the minister said, adding that the two countries also discussed on direct air service between the two that would make Nepali migrant workers fly to Kuwait easier. He also urged Kuwait to open embassy in Kathmadu to facilitate the migrant workers.
Similarly, Saudi Arab has also shown its interest in investing in hydropower, irrigation, and road construction, according to Pun. "Saudi Arab is taking decision to open its Embassy in Kathmandu soon to facilitate the visa process more easily for Nepali migrant workers, who want to go Saudi Arabia for foreign employment."
Like Kuwait, Saudi Arab is also positive on direct air service between the two countries, informed Pun, who led a four member team comprising joint secretary at the Ministry of Foreign Affairs Pralad Kumar Prasai, joint secretary at the Finance Ministry Lal Shankar Ghimire.