Economy

No option to accelerated multi-dimensional development: PM

President meets Nepal PM

Kathmandu, 28 March – Prime Minister KP Sharma Oli has said that the present government is focused on good governance and development by institutionalizing the achievements of political rights’ endeavours. And there is no option to speedy and multi-dimensional development so as to realize the goal of ‘prosperous Nepal and happy Nepalis’, he said.

Inaugurating the 8th international trade fair 2019 organised by the Federation of Chambers of Commerce and Industry (FNCCI), he said Nepal is a country with abundant possibilities for development. “It is rich in natural resources and minerals, has very fertile land, and young human resource for development,” the PM said.

Expressing the commitment to give more priority to domestic investment for the development of the country, the Prime Minister however said that foreign investment and technology have to be accepted as domestic resources alone were not enough for accelerated development. “As a result, the legal, technical, practical and administrative hurdles have been addressed in order to ensure productive outcome for foreign investment including access to taking income back home,” he added.

Prime Minister Oli shared that the incumbent government had floated a new perspective and approach to development. “The problems of the past are already a history. There’s no point in harping on the problems. We will move ahead meeting all our prior conditions.”

Stating that the government was willing to work in tandem with the private sector, PM Oli clarified that the government would not impose monopoly. Furthermore, referring to the trend of leveraging economic benefits in the name of privatization, the PM said, “It is the time of entrepreneurship. The need of hour is to establish the private sector as an enterprise and leverage mutual benefits.”

He reaffirmed, “The government will leave no stone unturned to enable favorable environment for the industries and factories.”

The PM viewed that the Fair organized on the eve of the Investment Summit would facilitate in experience sharing within the business communities. He said, “The Fair would help exchange information and knowledge about the products among the national and international entrepreneurs and help bolster mutual friendship.”

Minister for Industry, Commerce and Supplies Matrika Prasad Yadav argued that the country would not attain development without engaging the private sector. Stressing on the unity between the government and the private sector, Minister Yadav expressed his confidence that the International Trade Fair would help make the upcoming Investment Summit a success.

Likewise, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Bhawani Rana asserted that there was no alternative to reducing the trade deficit and promoting export. She opined that the Fair had provided a good platform for the Nepali products to find international market.

More than 85 domestic stalls and 90 stalls from China, 10 from India, 40 from Bangladesh and two from Pakistan constitute the exhibition that will run until April 1, according to the fair committee chair Dil Sundar Shrestha. RSS

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