Minister Pandey seeks investment from SKorea

KATHMANDU:

Minister for Foreign Affairs Mahendra Bahadur Pandey today sought an increased level of support and partnership from South Korea in Nepal’s socio-economic development and investment projects such as development of hydro energy and road and rail links, among others.

Minister Pandey, who is currently on a five-day official visit to South Korea, made the proposal during bilateral talks with his counterpart Yun Byung-se at the latter’s office in Seoul.

Thanking the Korean government for its continuous support to Nepal’s development initiatives, Pandey sought an increased level of Korean partnership in Nepal’s socioeconomic development and investment projects, the Embassy of Nepal in Seoul said in a statement.

Reassuring the support of the Korean government to Nepal, particularly in fields of education, health, energy and agriculture, Yun Byung-se said he wished to see Nepal as a peaceful and prosperous nation with conclusion of the peace process.

A source from the foreign ministry informed The Himalayan Times that the South Korean Foreign Minister Byung-se implied that Nepal needs to do more in matters of policy reforms as well as creating conducive environment to attract foreign investment in major projects.

During the meeting, both the foreign ministers expressed happiness in celebrating the 40th anniversary of establishment of diplomatic relationship between Nepal and South Korea and also expressed their commitment to further consolidate and expand all spheres of bilateral relations.

Nepal and South Korea set up diplomatic ties on May 15, 1974.

Apprising Nepal’s role in regional cooperation and forthcoming SAARC summit to be held in Kathmandu in November this year, Pandey appreciated the role played by South Korea in the SAARC process as an observer.

Source: THT