Kathmandu, September 11
Prime Minister Balen Shah has said the government will make its cooperation with the private sector more effective to address the challenges facing the country’s economy.
Speaking at a meeting with entrepreneurs and business leaders at Singha Durbar on Friday, Shah said the government was committed to creating a favourable environment for investment and business expansion.
According to RSP lawmaker Vidushi Rana, who attended the meeting, Shah also sought information from businesspeople about the problems they have been facing while operating industries and businesses.
Rana said Shah told the meeting that investment by Nepali businesses should be prioritised, followed by investment from non-resident Nepalis, while foreign investment would remain the government’s third priority.
Business leaders said Nepali entrepreneurs have the capacity to undertake large infrastructure projects but stressed the need for policy and legal reforms to facilitate such investments.
They also emphasised the need for the state to create a favourable environment to boost the confidence of the private sector, which, according to Rana, contributes around 80 percent to the country’s economy.
The business leaders also complained that the practice of arresting and detaining businesspeople as soon as allegations are made against them has adversely affected the confidence of the private sector.
According to Rana, the meeting agreed to hold regular discussions between the Prime Minister’s Office and representatives of the private sector every three months to review issues facing businesses, necessary legal amendments and the overall investment environment.
Industrialists and business leaders Binod Chaudhary, Pawan Golyan, Umesh Shrestha and Chandra Dhakal were among those attending the meeting.
