PM urges business community to engage in industrial development confidently

Prime Minister KP Sharma Oli has said the present government is working seriously towards reducing the trade imbalance.

Addressing a programme organised to mark the 55th annual general meeting of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Industry and Commerce Day here today, he said although significant success has not been achieved in reducing the trade imbalance, there has been a gradual improvement.

PM Oli said there are no labour-related problems, the general shutdowns and strikes were a thing of the past and that the country was moving forward with resolute commitment towards the country's economic and social development.

He urged the industrialists and businessmen to confidently engage in the industrial development as there was a friendly environment for industry, trade and businesses in the country at present.

"Industrial development is possible with the establishment of cordial relations amongst the government, the business community, employers and labourers, and the present government is committed to resolving the problems if any," the Prime Minister reiterated.

He shared on the occasion that the government has fixed the limitation on the minimum foreign investment with the objective of bringing in big amount in the form of foreign direct investment, stating it would be hard to meet the goal of 'Prosperous Nepal, Happy Nepalis' from small scale investments.

He opined the goal of economic development could be achieved only through enterprises that are economically and technically strong, stressing on the need of people from every trade and vocation to forge ahead in order for the country to move towards the path of development.

According to the Prime Minister, the government is committed to achieving the Sustainable Development Goals (SDGs) set by the United Nations and it was necessary to have double-digit economic growth rate for this to happen. The present government is proceeding towards this with a clear view and a roadmap.

The Prime Minister reiterated on the occasion that any Act, laws and regulations found to be an impediment to the country's industrial development would be revised and amended and called upon the industrialists and business community to come together with common resolve of nation building.

He urged the investors, industrialists and businessmen to work keeping the job creation, and production and productivity growth at the centre.

"It is necessary to go towards simplification of the procedural complexities. We will make the one-door system more effective and also end the administrative complications," Prime Minister resolved, in response to the difficulties faced by the industrialists and businessmen that FNCCI president Shekhar Golchha outlined in his welcome statement.

Expressing serious concern over the re-surfacing of Corona virus, the PM urged one and all to be alert and adopt precaution against its infection. "Let us adopt precaution in time so that there would not be a situation to impose lockdown again. The infection should be curbed by any means," he said stressing on the need of fully obeying the health safety measures and directives determined by the Ministry of Health and Population.

PM Oli launched the book 'Rastriya Aarthik Rupantaran (National Economic Transformation)- 2030' published by FNCCI on the occasion. He also honoured the entrepreneurs making contribution to the export trade, tourism, construction, production sectors.

FNCCI president Golchha said the private sector, which has a contribution of around 70 per cent in the national economy, was supporting the government's goal of fulfilling the national aspiration of 'Prosperous Nepal, Happy Nepali' in every way it can.

He stressed that the government also should extend cooperation in the implementation of programme of economic transformation.

The FNCCI president said the private sector expected the government's support in resolving the problems faced by the small and medium scale industries that were making 22 per cent contribution to the economy and providing employment to two million people.

FNCCI senior vice-president Chandra Prasad Dhakal underscored the need of ramping up investment in the infrastructure development sector. He believed that doing so would help boost up the country's economic development. He suggested a reduction in expenditure in the unproductive sectors.

Dhakal also pointed out the need of bringing a clear vision and plan for up to a decade, and its effective implementation, arguing that efforts of one or two years alone would not suffice to transform Nepal into a prosperous nation.