Yadav stresses on public private partnership in development

Kathmandu, Nov. 5

Minister for Industry, Commerce and Supply Matrika Prasad Yadav said on Tuesday that the country could meet its development aspirations only through the collaboration between the government and private sector.

"This is the time to build the country and it is possible only in cooperation and collaboration between the government and the private sector," he said while speaking at the Excon Roadshow event in the capital.

"Collectively we have capacity, skill and capital. We need to understand that."

Minister Yadav said that Nepal needed more technology transfer initiatives to support the development of business, industry and infrastructure development.

Infrastructure is the backbone of development. To create the infrastructure that can address the demand of the people and economy, we have to bring in new technology and know-how, he said.

"This is the age of technology and our progress depends on the capacity of technology transfer that we can make," he said.

According to Yadav, indigenous technology and ‘made in Nepal’ goods are rarely acknowledged which has discouraged Nepali entrepreneurs. Promotion of domestic goods will make the business including the foreign trade more dynamic.

He also said that the country needed to increase the electricity consumption rather than exporting it. "We need to stop the import of cooking gas if needed. It will have positive impact on trade balance as well," he said.

President of the Federation of Nepali Chambers of Commerce and Industry (FNCC) Bhawani Rana invited the Indian investor to invest in Nepal since the country offered a unique opportunity to invest in almost every sector.

She said that events like Excon can help strengthen business relations between the two countries.

Member of Excon 2019 Steering Committee Rahul Dandavate said that Nepali construction industry could benefit from the exhibition as it offered a good opportunity for producer-distributor and buyer relations. He suggested Nepali construction entrepreneurs using the latest technology.

Excon is the 10^th edition of the region's largest exhibition of the construction equipment will be held on 10-14 December this year in Bengaluru of India.

The event will feature more than 1250 stalls, including six country pavilions, from the producers and sellers from 25 countries across the world. The last edition witnessed the launch of about 300 new product launches.

The event in Kathmandu was jointly organised by the Confederation of Indian Industry (CII) and FNCCI.

Published in The Rising Nepal daily on 6 November 2019.