PM vows to create business environment

Kathmandu, June 24: Prime Minister KP Sharma Oli Friday urged the private sector to walk hand in hand with the government in creating the self-reliant economy.

Inaugurating a two-day conference, Nepal Nirman 2073, in the capital, he said as self-reliance could be achieved through investment and export competitiveness, both the government and business community had their special role to play in maintaining investment environment and delivering quality products respectively.

"The role of government is to create business and investment environment. The government is ready of listen to the suggestions and grievances of entrepreneurs, and remove the obstacles in domestic and foreign investment," said the PM.

He sought cooperation from the private sector in quality product, timely delivery and price competitiveness in their goods and services in order to boost Nepal's international trade.

"Nepal is a country of possibilities where you can make an investment in almost every sector from tourism, agriculture, medicine to infrastructure," said PM Oli.

He stated that it was not impossible to achieve the target of 6.5 per cent economic growth. "Budget of the coming Fiscal Year has initiated a beginning of a journey towards development and prosperity."

According to PM Oli, the government's priorities were infrastructure building, energy development, connectivity, communication and utilizing recent scientific innovations.

Saying that the journey towards prosperity should not be delayed, he maintained, "For decades we fought for social justice, equality and democracy. As those rights have been institutionalized in the constitutions, it’s the time to move towards economic progress."

Confederation of Nepalese Industries (CNI) president Hari Bhakta Sharma said that it was high time to bring the 'economy first' agenda in front of the public.

"We are glad that the government has been focusing on development agenda so as to achieve economic prosperity through double digit growth. But, in order to achieve the goal, the government should focus on implementing the new constitution so as to ensure rule of law and conducive environment to ease doing business in the country," he stated.

Maintaining that no country could develop through government initiative alone, Sharma remarked that private sector's role was vital in promoting investment, entrepreneurship and generating employment.

"Private investment, whether domestic or foreign, needs the right environment including business friendly policies, laws and regulations as well as fair market practices. Therefore, the government should effectively enforce laws and regulations related to the security of investment as well as fair labour laws," he said.

There will be eight sessions on various topics like - hydro and alternative energy development, foreign direct investment, media and sports. 

The conference is being organized by the CNI in association with Himalayan TV.