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National News Agency of Nepal (RSS) Executive Chairman Dharmendra Jha underlined the importance of the memorandum of understanding signed between RSS and Qatar News Agency (QNA), saying that it establishes an important and pivotal stage for the media sector in his country.

In a statement to QNA, he noted the significance of the MoU as it was signed during Qatari Emir Sheikh Tamim bin Hamad Al-Thani's two-day state visit to Nepal, stressing that the Emir's visit will enhance the relations between the two countries in various fields.

He indicated that the MoU signed between the two news agencies paves the way for cooperation between the two sides in several areas, including the exchange of news, visits and experiences, as well as cooperation on media topics of common interest.

This cooperation allows for learning about the vibrant media atmosphere in the State of Qatar, the rich experience of the Qatari media and its role in enhancing the Qatari presence regionally and globally, he added, according to the statement.

He noted that the MoU between the two sides will certainly enrich news content and coverage in the two countries' media because it will pave the way to exchange news related to two countries.

He highlighted the role of Qatar News Agency in providing a distinguished and comprehensive news service, pointing to its vital role in updating the world about various local activities in their national, regional and international dimensions, as well as covering regional and global events. He also noted other Qatari media outlets. (QNA)

At the Third Nepal Investment Summit slated for April 28-29 in Kathmandu, Nepal plans to showcase around 150 projects—more than three dozen projects from the private sector and 120 projects from the government side—before international investors. 

According to the Office of the Investment Board of Nepal (IBN), those projects are mainly from hydropower, transport, tourism, expressway and agriculture sectors.

Winning trust
Meanwhile,  Prime Minister Pushpa Kamal Dahal stressed the need to take the private sector into confidence and spread a message that Nepal has an investment-friendly environment. Addressing an event at IBN, he said the stress should be on facilitating the private sector rather than controlling it for development and prosperity. 

“A new model for development should be charted by taking the private sector into confidence,” he said: There will be no development without taking the private sector into confidence. 

Public aspirations and expectations can be fulfilled by adopting a policy that encourages development, PM Dahal said, instructing IBN officials to work toward that end. 

Focus on feasible projects

With regard to the upcoming investment summit, he called on all parties involved to work with a positive mindset to make the summit a success.

PM Dahal underlined the need to push forth workable projects at the summit, which is round the bend, rather than merely presenting a ‘wish-list’. He expressed confidence that some Acts amended before the summit will help bring in foreign investment. “Let’s organize the summit and deliver a new message,” he urged, pointing out the need to simplify procedures and other works related to development projects. 

The PM insisted that the political leadership should be able to deal with difficulties that arise while delivering some good works. Stating that priority should be accorded to the steel industry, he underscored that work should be done for the establishment of such industries. He instructed IBN to prioritize irrigation projects for generation of jobs in the agriculture sector and accelerate stalled development projects.

More than 100 houses were reduced to ashes in a fire that broke out at the Jaralahawa settlement in Matihani Municipality-6 of Mohattari on Wednesday.

According to Mayor Hari Prasad Mandal, 100 houses of the settlement were destroyed in the fire.

He said that the details of the damage caused by the fire are yet to be ascertained as the fire has not been taken under control.

Mayor Mandal said that the fire engines brought from the municipality, Janeshwor, Gaushala, Ram Gopalpur and Janakpurdham Sub-Metropolitan City are trying to extinguish the fire.

Nepal Army, Armed Police Force, Nepal Police personnel and locals are also battling to put off the inferno.

Prime Minister Pushpa Kamal Dahal has said that there should be an exchange of bilateral assistance between Nepal and Qatar in the best interests of both nations by further consolidating the bilateral ties.

During a bilateral meeting held between the Emir of the State of Qatar, Sheikh Tamim Bin Hamad Al-Thani, who arrived here on Tuesday on the two-day state visit, the Prime Minister apprised the distinguished guest from Qatar that Nepal offers ample and appropriate opportunities for investment in agriculture, tourism, and infrastructure sectors.

Stating that Nepali migrant workers in Qatar have served as a tool to further strengthen the friendly relations between Nepal and Qatar, the Prime Minister spoke of the need to deepen such ties in the days to come.

He utilized the meeting to call on Qatar to facilitate the safe release of Nepali student Bipin Joshi who has been missing since the conflict between Israel and Hamas.

Stating Nepal and Qatar always enjoy a cordial relationship, the Prime Minister said this relationship is founded on cordial friendship, mutual respect, trust, and assistance. "Qatar remains as a reliable friend of Nepal and such relations are getting deeper and extended. These relations are not limited to just an official level but have been expanded to the people-to-people level as well."

He expressed his hope that a high-level visit between the two countries will contribute to further strengthening ties, taking them to a new height. 

Describing Nepal as 'one the attractive destinations for investment for the globe', the Prime Minister said agriculture, energy, hydropower, infrastructure development, tourism, information and communications technology, service and hospitality sectors are suitable areas for foreign investment in Nepal. 

Stating that Nepal was a suitable place for producing organic agricultural products due to its geographical diversity, PM Dahal said that the Qatari investors would be encouraged to consider investment in this sector since Nepal was a center of attraction in tourism in the world parlance, the PM asserted that the foreign investment made in tourism infrastructures would not go in vain.

He viewed that the ascent of the highest mountain in the world-Sagarmatha (Mt Everest) by the first Qatari man, Sheikh Mohammed bin Abdulla Al-Thani in 2013, had contributed to the promotion of Nepal's tourism in the world.

On the occasion, PM Dahal requested to include Nepal in the list of Qatar's Tourism Authority's external tourism destinations.

Proposal for flight to Qatar from Lumbini and Pokhara

PM Dahal urged the Qatari government for operation of flights from Lumbini and Pokhara to Qatar as well. The PM placed the request during the bilateral discussions.

Stating that there were effective and sufficient air transportation between Kathmandu to Doha, PM Dahal urged the Qatari government to consider operating flights from Lumbini and Pokhara to Doha as well.

Stating that many agreements and MoU were signed between Nepal and Qatar, PM Dahal viewed that the agreements and MoU between the two countries should be amended and updated with the demand of time.

Migrant labor and bilateral relations

PM Dahal observed that around 400,000 Nepalis migrant workers working in Qatar at present were an important bridge further cementing the bilateral ties between Nepal and Qatar. 

Sharing that the government of Nepal was going to establish vocational training and skill development centers for aspiring Nepali migrant workers to Qatar, he urged the Qatari government for its assistance in setting up such centers.

Nepal's priority is economic development

Prime Minister Dahal asserted that economic development is Nepal's priority and it expected continued support from friendly countries and the development partners for fulfilling its development aspirations, including the graduation from least developed country status in 2026, stating economic development was Nepal's priority.

He expressed the confidence that the Government of Qatar will provide assistance to Nepal in the development of big infrastructure projects such as international standard cricket and football stadiums, hydropower production and construction of hospitals and health facilities.

Request to take initiative for Bipin Joshi's release

Likewise, Prime Minister Dahal has urged Qatar to take initiative for securing the safe release of Nepali student Bipin Joshi who has gone missing after the Hamas' attack on Israel.

"Bipin Joshi, an innocent Nepali student who was in Israel in connection to his educational practical exam, is missing following Hamas' attack on Israel on October 7, 2023 and his condition is not known yet," the PM said, adding, "I want to again place a request before he Government of Qatar for facilitating his prompt and safe release."

He further said, "I would like to request Your Highness to take personal initiative and draw attention to this topic."

Expressing concern over the deteriorating situation in West Asia, the PM wished that peace could be restored with the halt in war at the earliest.

Taskforce to facilitate investment

Meanwhile, Nepal and Qatar have agreed to form a taskforce from both sides to facilitate investment and other areas of mutual cooperation.

According to Dr Rupak Sapkota, foreign affairs advisor to the Prime Minister, such an agreement was reached during the one-to-one and the bilateral delegation level between Prime Minister Dahal and the Qatari Amir who returned home today on completion of his two-day State visit to Nepal beginning on Tuesday. 

The Nepal Stock Exchange (NEPSE) gained 0.15 points to close at 1,969.17 points on Wednesday.

Similarly, the sensitive index surged by 0.60 points to close at 348. 55 points.

A total of 7,284,272-unit shares of 313 companies were traded for Rs 2. 53 billion.

Meanwhile, Pokhara Finance Ltd. (PFL) was the top gainer today, with its price surging by 10. 00 percent. Likewise, Mai Khola Hydropower Limited (MKHL) was the top loser as its price fell by 7.84 percent.

At the end of the day, total market capitalization stood at Rs 3. 12 trillion.

Land and housing transactions are experiencing a slump, mirroring the downturn seen in most other sectors of the Nepali economy. Despite falling interest rates and easy access to bank loans, real estate agents say that demands are not forming.

So much so, the number of transactions has decreased compared to the previous fiscal year when it was difficult to avail of bank loans and interest rates too were high.

To stimulate land and housing transactions, the government lifted restrictions on land plotting by making amendments to the Land Use Regulations last year. Additionally, the central bank has increased the borrowing limit for housing loans. Banks, sitting on loanable funds of more than Rs 600bn, are offering housing loans at single-digit interest rates. However, real estate agents say that the demand for land plots and houses remains subdued.

The central bank has raised the loan-to-value ratio to 50 percent from 30 percent in the Kathmandu Valley to spur demand for loans. Similarly, the ceiling for realty loans has been raised to Rs 200m from Rs 150m. Likewise, the risk weight for real estate loans has been reduced to 125 percent from 150 percent.

According to the Department of Land Management and Archives, 380,175 land and housing transactions were recorded throughout the country in the first nine months of fiscal year 2023/24. The government generated revenue of Rs 29.19bn from these transactions. In the same period of the previous fiscal year, the government mobilized Rs 30.02bn in revenue from 321,307 transactions.

The number of land transactions in the ninth month (mid-March to mid-April) of 2023/24 increased to 50,252 compared to 49,150 in the same period of the previous fiscal year. However, revenue fell by 12.52 percent to Rs 3.94bn.

Although the number of transactions has increased compared to the previous fiscal year, revenue mobilization has declined, suggesting a drop in property prices. Experts, however, argue that since the data also includes properties released by banks or transfer of parental properties, not all can be counted as land and housing transactions.

Real estate agents attribute the current challenges in the real estate sector to the previous tightening of real estate loans by the central bank. They have urged the central bank to increase the debt-to-income ratio to 80 percent from the existing 60 percent.

Data provided by the department shows that land and housing transactions have increased in most of the urban districts in Koshi and Madhesh, while they have decreased in the Kathmandu Valley. Kathmandu Valley, which houses the federal capital Kathmandu, accounts for nearly 42 percent of the organized real estate sector, according to real estate agents.

Wrapping up his two-day state visit to Nepal, Qatari Emir Sheikh Tamim Bin Hamad Al Thani returned home today.

President Ram Chandra Poudel had reached the Tribhuvan International Airport (TIA) to bid farewell to the Qatari Emir.

Vice President Ram Sahay Prasad Yadav, Prime Minister Pushpa Kamal Dahal, Speaker Devraj Ghimire, Deputy Prime Minister and Minister for Foreign Affairs Narayan Kaji Shrestha, Deputy Prime Minister and Minister for Physical Infrastructure and Transport Raghubir Mahaseth, Minister for Energy, Water Resources and Irrigation Shakti Bahadur Basnet, Minister for Culture, Tourism and Civil Aviation Hit Bahadur Tamang and Chief Secretary Baikuntha Aryal, among other high officials were also present at TIA to see off the Emir.

A contingent of the Nepali Army offered a guard of honor and fired 21 cannon salvoes on the occasion.

The Qatari Emir arrived in Kathmandu on Tuesday for the state visit at the cordial invitation of President Paudel.

Qatari Emir Al Thani and President Paudel held talks at the Office of the President, Shital Niwas the same day.

President Paudel hosted a banquet in the Emir's honor the same evening.

Prime Minister Dahal and the Qatari Emir held a delegation-level meeting today. The two countries signed an agreement and five memoranda of understanding on various areas of cooperation on the occasion.

This is the Emir's first visit to Nepal after the two countries established diplomatic ties on January 21, 1977.

Nepal had set up its embassy in Doha on July 11, 2000 and Qatar its embassy in Kathmandu in August 2011.

Nepal and Qatar have reached to an agreement and understanding to collaborate in the art and culture, education, communication, youth and sports, legal assistance, and the industry and commerce sectors.

These agreements and MoUs were signed today on the occasion of the state visit of Emir of Qatar, Sheikh Tamim Bin Hamad Al Thani, said Amrit Bahadur Rai, spokesperson at the Ministry of Foreign Affairs.

The two countries signed the Memorandum of Understanding (MoU) on collaboration in the area of art and culture, exchange of news between the official news agencies of Nepal and Qatar, and exchange of cooperation in the education sector.

The agreements and MoUs were signed in the presence of the Qatari Emir and Prime Minister Pushpa Kamal Dahal following bilateral talks between them at the Soaltee Hotel today.

The Agreement signed today is on Cooperation and Exchange of News between National News Agency, Nepal (RSS) and Qatar News Agency (QNA).

The MoUs signed include: the Memorandum of Understanding  for cooperation in the fields of culture and arts between the Ministry of Culture, Tourism and Civil Aviation of Nepal and the Ministry of Culture of the State of Qatar; the Memorandum of Understanding for cooperation in the field of education, higher education and scientific research between the Government of Nepal and the Government of  the State of Qatar; the Memorandum of Understanding on cooperation in the field of youth and sports between the Government of Nepal and the Government of the State of Qatar; the Memorandum of Understanding for cooperation between the Office of the Attorney General of Nepal and the Public Prosecution of the State of Qatar and the Memorandum of Understanding  on cooperation in the field of diplomatic training and education between the Institute of Foreign Affairs (IFA) of the Government of Nepal and The Diplomatic Institute of the Ministry of Foreign Affairs of the State of Qatar.