Saturday, December 30, 2023

Industry Ministry instructed to prioritise startup venture

 Kathmandu, Dec. 28

Prime Minister Pushpa Kamal Dahal 'Prachanda' has instructed the Ministry of Industry, Commerce and Supplies (MoICS) to give high priority to startup businesses for the youth.

Speaking at a discussion with the officials of the MoICS on Thursday at the Singha Durbar, he directed the Ministry to promote entrepreneurship among young people with innovative thinking and passion, and make preparations to conduct a business promotion campaign focused on seven provinces through the Business Incubation Centre.

"Prepare a special plan to connect the latest ideas of at least 20,000 youths to the production of goods and services by mobilising the startup fund and arrange a 'Jobmeter' to measure the jobs created by self-employed, startups and various businesses," he asked the MoICS.

Emphasising that the diplomatic bodies of the Government of Nepal should focus on the promotion of industry and commerce, PM Prachanda instructed them to go ahead by making necessary plans, mechanisms and programmes for that.

The Prime Minister directed the ministry to prepare a solid framework for sectoral coordination and cooperation to implement the commercial policy, national action plan on trade deficit reduction and National Trade Integration Strategy to implement the basic foundation of "Production and trade: Sustainable basis of all sectoral development".

Likewise, PM Prachanda directed to establish an Industrial Infrastructure Development Facilitation Desk in the Office of the Prime Minister and Council of Ministers and ensure coordination of all sectoral bodies.

To make market monitoring regular and more effective, there is a need to establish and operate an integrated and specialised market monitoring directorate with representation from all relevant bodies, he said while expressing hopes that the ministry would carry out necessary studies on this matter.

Speaking at the meeting, Minister for Industry, Commerce and Supplies, Ramesh Rizal stated that the small amount allocated for the promotion of industry and commerce hindered the implementation of the scheduled programmes and said that an integrated solution should be sought from the government.

Chief Secretary of the Government of Nepal Dr. Baikuntha Aryal said that to make an action plan and implement the issues covered in the Prime Minister's address to the nation was necessary. He also directed the secretaries to prioritise the work of the areas declared as industrial zones.

Likewise, Narayan Prasad Sharma Duwadi, Secretary at the MoICS, presented the status of the ministry, progress, challenges and upcoming programmes.

He said that consistency between new policies, plans, programmes and budgets was necessary, and as inter-agency coordination was not effective, policies and programmes were scattered.

According to him, the Ministry has given priority to the promotion of entrepreneurship, upgrading of micro, cottage and small industries, development of industrial and business infrastructure, capacity building of employees and innovation-oriented programmes.

Emphasising the need to lobby for the promotion of Nepal's industry and commerce in bilateral and multilateral forums, Secretary Duwadi said that the concept of start-up business should be put forward for the youth, deadlines should be set for environmental impact assessment, and programmes run with the Prime Minister's name should be integrated.

 Published in The Rising Nepal daily on 29 December 2023.  

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