We need visionary leadership for sustainable development: Binod Chaudhary

Lalitpur, Mar. 10

Lawmaker and Forbes' billionaire in Nepal, Binod Chaudhary, has said that a country needs visionary leadership and ability to materialise that vision in order to lead it on the path of sustainable development.

"Development is all about managing resources, having natural resources is not enough. If having natural resources was enough, Japan, Dubai and Singapore would be among the poorest countries while African countries would have been the richest ones," he said while interacting with the delegates from Young Presidents' Organisation (YPO) Singapore Chapter in Lalitpur on Friday.

The YPO member entrepreneurs are in Nepal to explore Nepal, local culture, opportunities of Foreign Direct Investment (FDI) and other businesses among others, according to Sharad Tibarewala, a Nepali entrepreneur, and a YPO member.  

Chaudhary also said that there was nothing more satisfying than being able to serve the society at the time of need. According to him, a businessperson can leave a lot of impact in society while doing business and making the profits.

Chaudhary presented the immense potential that Nepal has in tourism, natural resources, medicinal herbs, hydropower and agriculture sectors in terms of business and investment.

He urged the visiting entrepreneurs to stay longer in Nepal, understand the investment opportunity, business climate and make investment here.

He also shared his journey to an industrialist. "Entry to the food biscuit was the turning point in my journey to the successful entrepreneur. It was the sector that was largely ignored by the domestic and Indian industrialists," he said.

Chaudhary had joined a business run by his father at an early age and climbed the ladder  of success to establish the private industrial park and many industries and ultimately became the president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI). He is the President Emeritus of the Confederation of Nepalese Industries (CNI). He contested the election from Nepali Congress Party in the general elections held on November 20, 2022 and was elected as a member of the House of Representatives.

Established in 1950 in New York, United States of America, the YPO is a global leadership community of chief executives of large businesses. It has 30,000 members in 142 countries across the globe. Combined revenue of YPO member-run companies is 9 trillion dollars and they are employing about 22 million people, according to the organisation.

Published in The Rising Nepal daily on 11 March 2023.