Nepalese PM welcomes investment for 'new phase of development'

Nepalese Prime Minister Khadga Prashad Oli has said that his country has "entered a new phase of development" and welcomes more investment, including funding from the Asian Infrastructure Investment Bank.

Oli made the remarks during a group interview on Tuesday in Beijing. He will attend the Boao Forum for Asia Annual Conference, which is set to open on Thursday.

Nepal "wants to invite all the organizers, companies, friends, private groups, and government as well, to support and cooperate with Nepal and to invest in Nepal", he said.

He noted that as a member of the AIIB, the country wants to "utilize the capacity of the bank".

"On the question of infrastructure development, Nepal is not advanced," he said.

"So we want to invite the organizers, including the bank, to invest in the field of infrastructure development in Nepal," he added.

Premier Li Keqiang held talks with his Nepali counterpart Oli on Monday and they agreed to expand reciprocal cooperation between the two countries in pursuit of common development.

After their talks, Li and Oli witnessed the signing of a string of cooperation documents, involving areas such as transport, trade, energy and finance.