Lumbini, Nepal--(Newsfile Corp. - October 4, 2022) - After suffering economic and healthcare challenges during the pandemic, Nepal is positioning itself as a key global player after announcing multiple regenerative policies. The country's post-Covid resurgence has been fuelled by its highly successful vaccination drive, with Nepal being celebrated by the World Health Organization as one of the first countries in the region to make their vaccines available nationwide and to ensure the inclusion of vulnerable members of society, such as refugees.
Since the installation of the new Nepal government in February 2018, the country has shifted to a federal structure. Since facing the same pandemic-induced economic struggles suffered by nations across the world, the federal government is instigating a return to consistent economic growth, with an expected growth of 3.9% in the Fiscal Year (FY) 2022, with a GDP growth of 5% predicted for FY 2023.
This growth is set to be partially fuelled by the announcement that major road expansions are being put into place across Nepal. These will revolve around the 58km highway that will join the capital, Kathmandu, to the under-connected regions of Kulekhani and Hetauda. This will incorporate three new tunnels, and will enhance employment and trade opportunities across the country. For instance, this highway will reduce the journey time from Hetauda to Kathmandu from around eight hours to just one hour. Plans have also been unveiled to introduce roads that will bolster north-south connectivity in Nepal.
Given the fact that agriculture accounts for over a third of Nepal's GDP and presently employs around three-quarters of the country's workforce, these measures for improving roads across Nepal will aid this industry and boost trade with neighboring countries.
These plans underline Nepal's continued commitment to embracing its world relations, epitomized by its trade with India, for instance, which sees it exporting around 364 MW in the Indian market per year. It is predicted that, in a matter of years, Nepal will have increased this figure to around two and a half thousand MW.
Nepal's outward-looking policies betray the country's deeply ingrained culture of multi-ethnicity, multilingualism and multi-religiosity. For example, although the majority of the population are Hindus, Nepal is also home to significant populations of Buddhists, Muslims, Christians, Sikhs and other smaller religions. Numerous inter-faith crossovers are experienced as a result of Nepal's multiculturalism; for instance, one of the nation's key religious sites, Swayambhu, is peacefully revered by both Buddhists and Hindus alike. Nepal's Universal Peace Sanctuary, which is currently under construction in Lumbini, is set to embody the country's attitude towards those of all faiths, ethnicities and cultures.
As Nepal continues to announce plans to accelerate its post-Covid progression and resurgence, it consolidates its objective of establishing itself as an internationally recognised hub for trade, economic development, connectivity and spirituality.
Media contact:
Name: Benjamin Gorlick
Email: 108@bengorlick.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/139457
