diff --git a/Dockerfile b/Dockerfile
index 970c34a690d4f..fa825d61f015b 100644
--- a/Dockerfile
+++ b/Dockerfile
@@ -141,7 +141,7 @@ COPY . .
 
 # start building the final container
 FROM nemo-deps as nemo
-ARG NEMO_VERSION=1.23.0
+ARG NEMO_VERSION=2.0.0
 
 # Check that NEMO_VERSION is set. Build will fail without this. Expose NEMO and base container
 # version information as runtime environment variable for introspection purposes
diff --git a/nemo/package_info.py b/nemo/package_info.py
index e0ff2247e6ada..b253927a6b383 100644
--- a/nemo/package_info.py
+++ b/nemo/package_info.py
@@ -13,8 +13,8 @@
 # limitations under the License.
 
 
-MAJOR = 1
-MINOR = 23
+MAJOR = 2
+MINOR = 0
 PATCH = 0
 PRE_RELEASE = 'rc0'