KATHMANDU: Prof. Haruhiko Kuroda, former Governor of the Central Bank of Japan and ex-Chairman of the Asian Development Bank (ADB), has emphasized the substantial economic growth potential in Nepal.
Speaking at a program titled ‘Economic Development in Asia: Past and Future,’ at Durbarmarg in Kathmandu on Tuesday, Kuroda commended Nepal’s unique economic landscape and the abundance of human resources that could catalyze its economic development.
The event, jointly organized by the Institute for Strategic and Socio-Economic Research (ISSR), the Ministry of Finance, and Nepal Rastra Bank, offered valuable insights into Nepal’s prospects for economic advancement.
Prof. Kuroda pointed out that Nepal, although often perceived as small due to its neighboring giants, boasts a significant size and population, surpassing the average European country.
Moreover, Kuroda stressed the importance of harnessing Nepal’s abundant human capital, noting that it could provide access to capital, technology, and skills on the global stage.
Drawing parallels with Asian economic powerhouses like India and China, he emphasized Nepal’s potential to repatriate its overseas workforce.
In the context of modern economic development, Kuroda highlighted the pivotal roles of information technology (IT) and artificial intelligence (AI) and underscored Nepal’s suitability for these sectors.
Additionally, he praised Nepal’s eco-friendly environment, driven by its lush forests, as a positive contribution to global carbon emission reduction.
He suggested that Nepal could export its environmentally friendly policies to other nations.
However, Kuroda identified four significant challenges hindering economic progress across Asia: recent geopolitical tensions, water scarcity, climate change, and an increasingly aging population.
Naresh Shrestha, Chairman of ISSR, who presided over the program, expressed his pleasure at welcoming former Governor Kuroda to Nepal. He also announced ISSR’s commitment to continuing similar enlightening programs in the future.
The program received support from various esteemed organizations, including the Investment Board of Nepal, Asian Development Bank, The Asia Foundation, Nabil Bank, Kumari Bank, NMB Bank, Prabhu Bank, Himalayan Bank, Global IME Bank, and Rastriya Banijya Bank.
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