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Kathmandu, July 31: Prime Minister KP Sharma Oli has outlined both the challenges and opportunities Nepal faces as it prepares to graduate from the Least Developed Country (LDC) category.

Speaking in the National Assembly, he acknowledged that the shift could affect international support, particularly in vital sectors like health and education, and warned that “climate change and natural disasters” could further complicate development efforts.

To ensure a smooth transition, Nepal has launched diplomatic initiatives through the Ministry of Foreign Affairs and adopted a comprehensive strategy led by the National Planning Commission. Multiple layers of committees—from a high-level steering group to provincial bodies chaired by chief ministers—are coordinating the rollout.

Oli emphasized that legal reforms are underway to sustain graduation gains. “Some laws need to be repealed, amended, or newly enacted,” he noted, pointing to broader efforts to strengthen foreign relations and align with global standards.

“Bilateral and multilateral cooperation is enabling Nepal to mobilize aid, attract investment, and secure concessional loans,” he said. The government is also reviewing procurement laws and construction policies while investing in institutional reform and infrastructure upgrades.

According to PM Oli, Nepal aims to reposition itself as a “land-linked” rather than land-locked nation by improving connectivity and developing regional value chains in collaboration with multinational firms.

People’s News Monitoring Service