Third Investment Summit: Two organizations sign MoU for PPP cooperation

The World Association of PPP Units and Professionals (WAPP) and the Nepalese Association of PPP Professionals and Practitioners (NAPPP) have signed a Memorandum of Understanding (MoU) for bilateral cooperation.

The MoU was signed in the course of the Third Investment Summit underway in Kathmandu since Sunday.

WAPP President Ziad-Alexandre Hayek and NAPPP Chair Anup Kumar Upadhyay signed the document on behalf of their respective sides.

Both parties have agreed to collaborate in matters of mutual concerns and exchange knowledge and experiences regarding the public-private partnership.

Strengthening of physical infrastructure and PPP pipelines, preparations of PPP projects and programs, and collaboration for the promotion of international exercises in the implementation, hosting of joint gatherings and assemblies, and publications of joint journals are among the contents of the MoU.

NAPPP Chairperson Anup Kumar Upadhyay said the cooperation between the WAPP and NAPPP is expected to help Nepal enhance its knowledge and capacity regarding the PPP and strengthen projects on PPP.

WAPP President Hayek said Nepal has a long experience in the implementation of PPP-based projects and this approach has brought transformations mainly in the hydropower and clean energy sectors. Nepal's home-grown practices and its experiences are exemplary, he said.

WAPP with its headquarters in Geneva, Switzerland, is a global non-governmental organization. It helps its members achieve their professional goals and promotes best practices in PPP to align with UN SDGs, the WAPP said.

NAPPP is said to be an association that brings together practitioners, professionals, and members from multiple sectors to promote collaboration, innovation, and efficiency in public-private partnerships and investment to contribute to sustainable development.

Meanwhile, Sakha and Company Private Limited and Anforman Group and BORE Hotel, China have signed an agreement worth Rs 100 million for cooperation in hotel business today itself.