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Time Ripe For Industrial Development: Prime Minister Oli - nepalforeignaffairs nepalforeignaffairs

Time Ripe For Industrial Development: Prime Minister Oli


NFA (KATHMANDU, 11 April 2021) –  Prime Minister KP Sharma Oli has called upon the private sector to engage in industrial development with confidence as business-friendly environment has been created in the country.
Addressing the 55th annual general assembly of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) cum FNCCI Day-2021, Oli expressed his commitment for timely amendment to laws hindering the industrial development of the country.
“There are still some problems. Let’s solve them together. Give the government a report by focusing on something special in written form if there are administrative obstacles in doing business,” he said.
He urged the entrepreneurs to create jobs and increase their productivity.
“Problems like strikes in the industrial sector have been resolved, and most importantly the politics of violence has now come to an end in Nepal. For the growth of industry and commerce, there is nothing as conducive as peace,” he said.
Expressing his view that the goal of economic prosperity can be achieved only through technically and financially strong industries and businesses, he stressed that people from all walks of life, not only the industrialists, should move forward on the path of development. Noting that the trade deficit of the country was now narrowed, the Prime Minister said that it was now under control.
“The current government is moving forward with a clear vision and roadmap aiming to achieve the Sustainable Development Goals (SDGs) and double-digit economic growth,” he said.
Prime Minister Oli clarified that the government has set a limit on the minimum foreign investment with the objective of attracting foreign investments and that it would be difficult to prosper through retail investment.
“The government has the full support of the FNCCI’s campaign for dignified private sector, prosperous Nepal,” he said.
He said that the private sector should continue their business with honesty and dedication to get respect from people and the state.
Pointing to the political context, the Prime Minister said that people should be known for building the country and fulfilling the interests of the people. “If there is no difference between concrete reality and projected reality, the country will be confused,” he said.
Expressing serious concern about resurgent COVID-19, Prime Minister Oli urged all to follow government-approved health protocol.
“We need to remain vigilant to contain the virus spread. If we are aware on this, we don’t need another lockdown,” he said.
He added that the pace of prosperity had slowed down last year due to the obstacles created by the pandemic.
FNCCI president Shekhar Golchha said that the private sector, which contributes about 70 per cent to the country’s economy, had been playing an active role in achieving the nation’s aspiration of “Prosperous Nepal, Happy Nepali’.
Appreciating the government’s relief packages aimed at reviving the pandemic-affected economy, he said that the private sector was still awaiting further support from the government to accelerate the economic growth.
“While economies of most countries are still struggling, ours is rapidly reviving,” Golchha said.


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