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CPN-UML Chairman KP Sharma Oli left for Cambodia.

A six-member team headed by Oli left for Cambodia last night to observe the election to be held there, informed UML Publicity Department Chief Rajendra Gautam.

The delegation comprises Oli's spouse Radhika Shakya, party's deputy general secretary Bishnu Rimal, Oli's personal secretary Rajesh Bajhracharya.

Chair Oli is scheduled to return home on July 24.

Finance Minister Dr Prakash Saran Mahat has urged Indian investors to spur investment in Nepal with confidence as Nepal is a fertile land for investment and returns perspectives.

In his address to a program hosted by the Gujarat Chamber of Commerce of India in Gujarat on Tuesday, Finance Minister Dr Mahat called for the Indian investors to flow investment in Nepal, informed the Ministry of Finance.

He said Nepal has recently signed an agreement to export 10,000 MW electricity to India which would resultantly incentivize hydropower production in Nepal and also open up several avenues for the industries to supply power in higher quantities.

He further said that Nepal is in a situation to ensure hydro power supply all time at a cheaper price and the goods produced in Nepal also get easy access in India which he said would enable an environment for investment promotion.

Finance Minister Dr Mahat urged the Indian business community to confidently make investment as there is no trouble at policy level in returning the yields to their home country.

Dr Mahat went on to say that there are abundant opportunities for investment in agriculture enterprises, information technology and tourism besides energy production.

The advancement of the information technology sector is gaining momentum in Nepal, Dr Mahat said, adding availability of cheaper human resources can promote competitive market capacity.

Also speaking on the occasion, senior Vice-Chairperson of Gujarat Chamber of Commerce and Industry Sandeep Engineer said the industrialists and entrepreneurs of Gujarat are interested to expand investment and operate business in Nepal and urged the Nepal government to facilitate the process for the same.

At the program, officials of the Finance Ministry and New Delhi-based Nepali Embassy briefed the Indian business community about the scope and potentials of investment in Nepal.

Finance Minister Dr Prakash Saran Mahat and Finance Minister of China Liu Kun held a meeting on Monday during the sidelines of the G20 meeting in Gandhinagar, Gujarat, India.

Various issues of mutual interest and bilateral relations were discussed in the meeting, according to Dr Mahat's Secretariat.

"Both ministers shared the same opinion that both sides are sensitive to each other's interests and concerns while Dr Mahat expressed his gratitude for China's continued assistance to development endeavors of Nepal."

The two finance ministers also discussed the commitment of aid made by the President of China during his visit to Nepal in 2019.

On the occasion, Minister Dr Mahat expressed his belief that the projects on roads connecting the two countries from the important transit points could be an important area of aid and that the relevant agencies of both countries should do their homework and move forward soon. He also expressed hope that the Tokha-Chhahre tunnel way construction project will be implemented soon.

In response, Chinese Finance Minister Kun expressed China's desire to help Nepal's development and expressed his belief that the cooperation projects will be implemented soon.

The Ministry of Home Affairs has started a coordinated initiative to address the problems concerning the human settlements in the river corridors of Kathmandu Valley.

Accordingly, the meeting of heads and officers of relevant ministries and agencies held under the chairmanship of Deputy Prime Minister and Home Minister Narayan Kaji Shrestha on Monday concluded that the concerned agencies should work together to solve the long-standing problem. It was agreed that the high-powered committee for integrated development of Bagmati Civilization, the Kathmandu Metropolitan City and the National Land Commission should meet soon to resolve the problem within a fixed time.

The meeting decided to form a task force with representation from the Ministries of Home, Urban Development, Physical Infrastructure and Transport and Land Management and Poverty Alleviation and High-powered committee for integrated development of Bagmati Civilization, the Kathmandu Metropolitan City and the National Land Commission, Kathmandu Valley Development Authority.

Speaking on the occasion, Deputy Prime Minister Shrestha stressed on the need to work in a coordinated manner to remove the unauthorized settlements in the Bagmati Corridor and said the removal of the slums would be completed in conjunction with the resettlement plan of the real slum dwellers.

Minister for Urban Development Sita Gurung reminded that the government's policy and program and budget mentions relocating the settlements in the river corridor. However, in the name of removing slums, the rights of real squatters should not be violated or denied.

Minister for Federal Affairs and General Administration Amanlal Modi said that the ministry is ready to coordinate with the local level to solve the problems concerning the settlements in the river corridors.

Kathmandu Metropolitan City Mayor Balendra Sah said that he expected the help of the Ministry of Home Affairs to remove the unorganized settlements of the Bagmati Corridor.