Nepal’s transition to developing country a moment of pride: PM Oli

Kathmandu: Prime Minister KP Sharma Oli has expressed that Nepal’s upcoming upgrade from a Least Developed Country (LDC) to a developing country is a significant achievement and a matter of national pride.

Responding to discussions on the Study Report on Nepal’s Upgrade from LDC to Developing Country 2025 in the National Assembly, Prime Minister Oli said the outcomes of the 15th and 16th periodic plans — guided by the vision of a “Prosperous Nepal, Happy Nepalis” — are now visible. He highlighted positive signs of economic reform and emphasized that the goals of social justice, good governance, and prosperity outlined in the 16th Plan are aligned with the post-upgrade context.

“Nepal, which led the LDC group of 45 countries, is now preparing to graduate next year alongside seven other nations. This is a joyful moment that reflects Nepal’s rising international image and growing self-reliance,” Oli said.

He noted that Nepal has been engaged in diplomatic efforts since last year to address the possible reduction in benefits and special provisions it currently receives from the United Nations, World Bank, European Union, and other international agencies as an LDC. Legal reforms are underway, including repealing, amending, and drafting new laws to ensure the sustainability of Nepal’s development status.

The Prime Minister also highlighted improved implementation of international treaties, growing opportunities for foreign investment, enhanced access to bilateral and multilateral loans, and progress in strengthening individual and institutional capacities. He added that the government is currently reviewing the Public Procurement Act and construction-related laws to enhance effectiveness.

Nepal has been listed as an LDC for 55 years. Efforts for graduation began through periodic plans, budgets, and development programs starting in 2010. Although the UN recognized Nepal’s progress in human assets and economic vulnerability in 2015, 2018, and 2021, the country met the required threshold for per capita Gross National Income only recently, qualifying it for graduation in 2026.

During the meeting, National Assembly Speaker Narayan Prasad Dahal instructed the government to prioritize the implementation of the report’s recommendations.

The Assembly also unanimously endorsed a proposal to send the Film Bill 2025 to the Education Management Committee for clause-wise discussion. The next meeting is scheduled for Friday, August 23, at 11:15 AM.