Fight for business interest: Yadav

Kathmandu, Sept. 12

Minister for Industry, Commerce and Industry Matrika Prasad Yadav on Thursday urged the private sector to have similar views in business and investment policies. 

"Private sector business associations come to the government with different, sometimes confronting demands which push the government into a fix," he said while addressing the concluding ceremony of the Nepal Infrastructure Summit 2019. 

He said that the government had been trying to create better environment for the private sector and foreign investors and facilitate them with simpler process and a favourable legal and policy framework. 

Minister Yadav suggested the private business community to create a business front to fight for their interest. 

"You can create a front of all business association and make a single opinion in terms of business policies, it will help the government in terms of creating uniform policies," he said. 

"You can learn from the political parties in creating a front to push your interest and demands. Two large communist parties formed an alliance in the last election, and you have seen the results," he added. 

According to him, the government and the private businesses in the country should focus on increasing domestic products and substituting imports. 

Minister Yadav also made a call for inviting investment in Nepal stating that the political stability after decades of instability was achieved and political transition was concluded and the country had the sole agenda of economic development. 

"Nepal is a virgin land for investment in any area, I would like to welcome both the Nepali and foreign investors," he said. 

He also maintained that the government would put every effort to create and maintain conducive investment climate. Most of the laws and policies related to business and investment are amended so that they would support private investment. 

The two-day summit has witnessed the presence of about 500 investors and businesspersons and brought together 60 partners and collaborators. 

Vice-President of CNI Birendra Raj Pandey said that 115 projects were showcased at the summit. However, most of the projects are just identified and do not have even a pre-feasibility study. 

Speakers of the closing plenary suggested introducing the concept of national project bank.

The CNI had organised Infrastructure Idea Hunt, an innovation competition, on the occasion.

Bidhi Mandal and Santosh Yadav's project 'Awas' – model house of plastic – win the competition and bagged a purse of Rs. 150,000. The project aims at making house of plastic and addressing the environment challenge. 

Two ideas – Home Automation of Shristi Awale, Sushant Maharjan and Gautam Shrestha and Traffic Mobility Platform of Ramesh Pathak, Barun Pandey, Saramsha Dotel, Anish Bhusal and Avishekh Shrestha – became the runner ups of the competition. They received Rs. 100,000 cash each. 

Published in The Rising Nepal daily on 13 September 2019.