Plast Nepal Expo 2024 begins in capital

Kathmandu, Nov. 28

The Fourth edition of the Plast Nepal Expo 2024, an international exhibition showcasing plastic products and technology, kicked off at the Bhrikutimandap Exhibition Centre in Kathmandu.

Inaugurating the 3-day expo organised by the Plast Nepal Foundation (PNF), Minister for Industry, Commerce, and Supplies, Damodar Bhandari, expressed the government's commitment to addressing industrial challenges and creating an environment conducive to investment.

According to him, the formation of a high-level Economic Reform Commission, which includes private sector representation, is an evidence of efforts to involve all stakeholders in policy development.

Minister Bhandari stressed on the need to resolve legal barriers, improve coordination among government bodies, and create a stable environment to attract investment.

"We need to follow sustainable practices in the plastic industry to mitigate environmental impacts, boost domestic production, adopt innovative technologies, and increase exports to reduce the trade deficit," said Minister Bhandari.

The PNF is a consortium of manufacturers and suppliers engaged in the production, processing, and trade of plastic products. Expo features 150 stalls featuring participants from Nepal, India, Bangladesh, China, and other countries, including suppliers of raw materials, machinery, and services.

According to the PNF, the expo serves as a platform to showcase innovations, foster collaboration, and address critical issues facing Nepal’s plastic industry, including policy reform, investment incentives, and sustainable practices. It features household goods, construction materials, commercial goods, packaging items, raw materials and processing industries.

President of the PNF, Dipak Shrestha, said that Nepal has about 800 plastic industries that produce goods worth Rs. 75 billion annually and provide employment to over 100,000 pesons.

He also highlighted the role of plastic in mitigating environmental challenges through advanced technologies, though he raised concerns about low-quality imports from India that undermine locally produced goods. He called for stricter regulations at the border to protect domestic industries that have been contributing to job creation and economic prosperity.

Chandra Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry, stressed the need for legal reforms to address sectoral challenges and prioritise domestic production as a substitute for imports.

He highlighted that while several laws were amended through ordinances during the investment summit held in April this year, the necessary regulations and procedures to enforce them have yet to be prepared. "This delay has hindered the effectiveness of those changes," said Dhakal.

According to him, the government and the private sector successfully concluded the investment summit, and laws were amended. However, the absence of regulations and procedures remains an issue. Whether for attracting domestic or foreign investment, further amendments to certain laws are still necessary.

He said that the private sector is facing problems such as excise duties, wastage of manufactured goods, and pricing challenges, and there is an urgency of practical decisions and timely resolutions to address these concerns.

Likewise, Industry Secretary, Krishna Bahadur Raut, emphasised the need for balanced policies that address industrial growth while considering environmental sustainability.

Rajesh Agrawal, President of the Confederation of Nepalese Industries, highlighted the importance of developing a robust recycling system in Nepal to reduce the need for imported raw materials and alleviate trade deficit. He noted that recycled plastics accounted for over 40 per cent of production in some countries and argued that similar measures in Nepal would benefit the economy.

Similarly, Kamalesh Kumar Agrawal, President of the Nepal Chamber of Commerce, urged the government to reduce customs duties on imported raw materials and introduce environmentally friendly policies to support the sector.

The expo will run till Saturday. 

Published in The Rising Nepal daily on 29 November 2024.