Lumbini, May 30 – The two-day Lumbini Buddhist Economic Summit concluded with a strong and unified commitment to integrating the principles of the Buddha into all levels of governance. The summit aimed to foster sustainable tourism and drive economic prosperity across Lumbini Province. Organized under the theme “Prosperous Province, Happy Citizens,” the event was jointly hosted by Lumbini Buddhist University (LBU) and the Ministry of Industry, Tourism, and Transport of Lumbini Province.
The summit was formally inaugurated on May 30 in the presence of the Honorable Chief Minister of Lumbini Province, Mr. Chet Narayan Acharya, who served as the Chief Guest. Distinguished dignitaries in attendance included Prof. Dr. Subarnalal Bajracharya, Vice Chancellor of LBU; Dr. Tilakram Acharya, Registrar of LBU; Hon. Dr. Prakash Kumar Shrestha, Member of the National Planning Commission; Mr. Baburam Adhikari, Principal Secretary of Lumbini Province; and Hon. Prachanda Bikram Neupane, Minister of Industry, Tourism, and Transport of Lumbini Province.
The inaugural session began with a Buddhist invocation for peace and prosperity. Venerable Vajira recited homage to the Triple Gems and offered the Five Precepts to all participants. In a symbolic act of unity, the Chief Minister and other dignitaries inaugurated the summit by offering sacred Khadas to the image of the Buddha. In his remarks, Minister Neupane congratulated all involved on the commencement of the summit and emphasized that the teachings of the Buddha are equally vital for peace and development. He affirmed the provincial government’s dedication to academic innovation and sustainable societal progress based on Buddhist values.
Day One: Academic Discourse on Buddhist Economics
The first day of the summit featured a significant presentation session focused on Buddhist economics. This session was chaired by Dr. Manik Ratna Shakya, Dean of the Faculty of Buddhist Studies, and was moderated by Dr. Kul Prasad Khanal, with Mr. Kamal Thapa as facilitator and Mr. Rajendra Ghimire as rapporteur. Three scholars presented in this session.
Dr. Hari Dhoj Rai presented a paper titled “Buddhist Heritages of the Greater Lumbini Area: Tourism Promotion and Economic Development.” He proposed a Buddhist tourism-based economic model and emphasized the untapped potential of Lumbini’s spiritual heritage. Dr. Reena Tuladhar spoke on “A Prosperous Economy from a Buddhist Perspective,” in which she compared conventional economic systems with Buddhist principles. She introduced pragmatic, small-scale economic models that focus on sustainability and ethics. Lecturer Sanjay Shakya presented a paper titled “Compatibility of Sufficiency Economy and GNH Theory for the Sustainable Development of Lumbini Province.” He emphasized Buddhist philosophy centered on compassion and wisdom and proposed its application for local economic development.
Day Two: Advanced Perspectives in Buddhist Economic Thought
On the second day, the summit continued with an advanced presentation session on Buddhist economics. This session was chaired by Prof. Dr. Gitu Giri, moderated by Dr. Kumar Khadka, with Ms. Nira Gautam as facilitator and Dr. Phanindra Neupane serving as rapporteur. Three more scholars contributed their insights.
Dr. Ramraj Upadhyaya presented on “Buddhist and Conventional Views on Trade and Economy,” comparing the benefits and drawbacks of prevailing economic models. He emphasized that Buddhist economic approaches offer sustainable solutions to the shortcomings of conventional systems, citing their relevance over the past 2,500 years. Dr. Shree Prasad Bhattarai delivered a presentation titled “Harnessing the Power of Buddhist Spirituality: Lumbini’s Role in Economic Transformation.” He discussed how Lumbini, as a global pilgrimage site, could be economically transformative if developed through a Buddhist management lens. Dr. Sharada Paudel highlighted “The Relevance of Buddhist Economic Principles for the Development of Lumbini Province.” She explored the ethical and practical dimensions of Buddhist teachings in fostering inclusive and sustainable economic practices in daily life.
The presentation sessions concluded with a formal closing ceremony, chaired by Vice Chancellor Prof. Dr. Subarnalal Bajracharya. During this session, Dr. Kul Prasad Khanal, Director of the Planning and Evaluation Division at LBU, announced a plan to develop a thematic roadmap for implementing a Buddhist Economic Model. He emphasized the importance of aligning this model with the Sustainable Development Goals (SDGs) and called for comprehensive collaboration among all provincial institutions.
As part of the summit’s resolutions, the university also committed to developing a province-level curriculum that integrates basic Buddhist education in public schools. In collaboration with the Provincial Planning Commission, LBU will also organize seminars, workshops, and spiritual programs to provide policy support rooted in Buddhist philosophy.
Mr. Narad Gautam, Secretary at the Ministry of Industry, Tourism, and Transport, presented ongoing government strategies to enhance tourism in the Lumbini region. He urged academic institutions, the private sector, and government bodies to work in synergy for holistic development.
In his concluding remarks, Vice Chancellor Prof. Dr. Subarnalal Bajracharya stressed the need to link Buddhist wisdom with economic and social development. He highlighted the relevance of Buddhist teachings in addressing today’s economic challenges and reaffirmed LBU’s vision of transforming Lumbini into a global spiritual and economic destination.
Throughout the summit, participants—including policymakers, educators, business leaders, researchers, and civil society representatives—shared a unified message: that a peaceful, inclusive, and sustainable development model inspired by Buddhist philosophy is not only beneficial but essential for the long-term prosperity of Lumbini and its people.
The summit concluded with the adoption of a comprehensive Seven-Point Declaration of Commitment, endorsed by all key stakeholders. The declaration includes the following objectives:
- Promoting Buddhist values in public policy and governance
- Enhancing tourism services grounded in local heritage and knowledge
- Preserving archaeological and heritage tourism sites
- Supporting skill-based microenterprises and traditional crafts
- Encouraging the promotion and use of local products
- Developing integrated provincial tourism guidelines and indicators
- Creating and implementing Buddhist-based educational content in schools across the province
Lumbini Buddhist University remains deeply committed to integrating Buddhist economic philosophy into research, education, and development practice. The university seeks to position Lumbini as a leading example of how spiritual wisdom and academic rigor can combine to create a more ethical, inclusive, and sustainable society.