• ADB President Nakao praised Nepal’s plan to reach middle-income country status

    February 4, 2015
    ADB President  Nakao praised Nepal’s plan to reach middle-income country status

    Travelbiznews Report —————–

    Kathmandu :  Asian Development Bank (ADB) President Takehiko Nakao praised the government’s recent announcement that it will prepare a Nepal Development Vision 2030 strategy and a medium-term development plan to reach middle-income country status.

    “The strategy will help the government prioritize public investment in key sectors such as energy, transport, and agriculture; improve education, governance, and the business environment; and promote competitive manufacturing industries,” Mr. Nakao said. ADB will provide necessary technical assistance to support the planning.

    Nakao met with Nepal’s Prime Minister Sushil Koirala, Finance Minister Ram Sharan Mahat, and National Planning Commission Vice Chairperson  to discuss ways that ADB can support faster and more inclusive growth in Nepal, notably through better infrastructure and a more skilled workforce. 

     “Nepal’s efforts to strengthen democracy through restoration of peace should make every Nepali very proud. I hope that the new constitution will be enacted soon, paving the way for lasting peace, stability, and economic development,” Mr. Nakao said.

     Nakao noted that this year marks the 25th anniversary of ADB’s resident mission in Kathmandu. Nepal is a founding developing member country of ADB, which was established in 1966. Since ADB began its development assistance to Nepal in 1969, by funding the improvement of the Kathmandu (now Tribhuvan) International Airport and four domestic airports, ADB has provided 167 sovereign loans and grants to Nepal totaling $4.3 billion.

    Nakao commended the government’s ambitious economic reform program to attract private sector investment. He emphasized that effective implementation of these reforms is crucial for Nepal to achieve its economic growth potential of 7%-8% per annum, substantially higher than the 4% average annual rate achieved in the past decade.

    ADB forecasts Nepal’s economy to grow at 4.8% in the fiscal year 2015 ending 15 July 2015 and accelerate to 5.2% in fiscal year 2016. The country’s recent macroeconomic stability—underpinned by a low budget deficit of about 2% of GDP, a reduced inflation rate of about 8%, and a balance of payments surplus—would lay the foundations for higher growth.

    According to statement released here, ADB plans to provide about $1 billion in concessional loans and about $13 million in technical assistance grants to Nepal over the next three years. More than 80% of ADB’s financial support is earmarked for major infrastructure projects in hydropower generation and transmission, international airport expansion, road transport and trade facilitation, urban development in key municipalities, education and skills development, and agriculture productivity growth.

    He highlighted the need to redouble efforts on human resource development. Currently, only 12% of students enrolled in primary school complete the 10th grade. Creating a labor force with better education and skills will be the focus of the next phase of ADB’s School Sector Program, implemented in partnership with other development partners.

    ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region .

    Feb.4, 2015

    • Connecting you with the world of travel and tourism

      Theme Park Expo Vietnam 2025

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      Nihao China- Beyond your imagination

      India resumes tourist visa for

      Chinese citizens after 5 years

      India announced  that it will open tourist visa applications to Chinese citizens from July 24, 2025. It was the first time in five years since the South Asian country suspended Chinese citizens’ tourist visa applications in February 2020.

      The Embassy of India in China announced via its Sina Weibo account  that, starting from July 24, 2025, Chinese citizens can apply for a tourist visa to visit India after completing an online application, scheduling an appointment, and personally submitting their passport and other required documents to three Indian visa application centers in Beijing, Shanghai, and Guangzhou in South China’s Guangdong Province.

      Responding to the related inquiry, Chinese Foreign Ministry spokesperson Guo Jiakun said  that “we take note of this positive move. Easing cross-border travel is widely beneficial. China will maintain communication and consultation with India to further facilitate travel between the two countries.”

      Chinese experts said the latest move taken by the India marks a phased milestone in the easing of relations between the two countries, and creates favorable conditions for further strengthening bilateral people-to-people exchanges.

      On February 2, 2020, India temporarily suspended its e-visa facility for Chinese travelers and foreigners residing in China amid coronavirus outbreak. – Global Times

      Trump to pause anti-immigrant

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      US President Donald Trump has decided to temporarily suspend raids on farms, hotels and restaurants, according a media report.

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      Immigration and Customs Enforcement (ICE) were sent a directive asking that they refrain from heading to such establishments, which also include meatpacking plants and aquaculture.

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      The recent protests in Los Angeles, which were triggered by large-scale immigration raids in local communities, have increased pressure on the government. This situation poses a dilemma for the president, who is seeking to maintain the support of key constituencies ahead of the upcoming congressional and midterm elections in 2026.

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      The temporary suspension of the agriculture and hospitality raids likely does not represent a fundamental change in Trump’s immigration policy, which remains aggressive in rhetoric.

      Secretary of Homeland Security Kristi Noem pledhed that federal authorities are “not going away”, and that people who are in the country illegally, as well as violent protesters, will “face consequences”.

      The administration has relied heavily on a crime-focused message, which places significant emphasis on apprehending individuals illegally in the country who are also violent criminals.

      That message has been undercut, however, by statistics revealed this week which show the number of people arrested for immigration violations that have never faced other criminal charges or convictions has shot up from 860 in January this year to 7,800 this month.

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      “Messe Berlin’s presence in India reflects our strategic intent to strengthen our international reach by being where the growth is. India is a key market for us — vibrant, diverse, and full of opportunities. With Messe Berlin India, we are laying down long-term foundations to build strong partnerships, support local industries, and elevate our global platforms,” said Dr. Mario Tobias, CEO, Messe Berlin.

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      FACTS —

      Tourism helps in:

      👉Reducing poverty

      👉Reducing Inequalities

      👉Promoting gender equality

      👉Fostering decent work and economic growth

      World Tourism Day 2021: ‘Tourism for Inclusive Growth’

      In 2019, Travel & Tourism’s direct, indirect and induced impact accounted for:
      -US$8.9 trillion contribution to the world’s GDP
      -10.3% of global GDP
      -330 million jobs, 1 in 10 jobs around the world
      -US$1.7 trillion visitor exports (6.8% of total exports,
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      -US$948 billion capital investment (4.3% of total
      investment)