Entrepreneurs urge government for one-stop policy

 Kathmandu, Jan. 29

Meanwhile, private sector entrepreneurs have urged the government to establish a favourable investment climate and eliminate legal hurdles to promote startups and small and medium enterprises (SMEs) through a streamlined one-stop policy.

Speaking at a session of the conference, industry leaders highlighted the need for removing regulatory complexities to boost investment.

President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, remarked that the government's recently introduced ordinance has been instrumental in easing challenges for businesses. "This ordinance is crucial as it encourages entrepreneurs to push forward economic reforms. I urge the authorities to implement it swiftly," he said.

Dhakal further noted that while FNCCI cannot accommodate all stakeholders, political parties' involvement in fostering innovation could encourage young entrepreneurs to invest in startups.

Emphasising that integrity and determination are key to entrepreneurial success, Dhakal said, "It took me 40 years to reach this stage. There were significant challenges in the past, but things are much easier now. Banks and financial institutions have made loans more accessible, and various summits are creating new opportunities."

Likewise, Shobha Gyawali, President of the Federation of Women Entrepreneurs’ Associations of Nepal (FWEAN), stressed the importance of prioritising local products. She also highlighted the need for gender equality in business and politics, and said, "Women constitute 52 per cent of the population, and we deserve equal opportunities in both politics and business." The FWEAN currently represents 5,500 female entrepreneurs.

Siddhant Raj Pandey, CEO of Business Oxygen, underscored the importance of creating a business-friendly environment to retain young talent in Nepal. "We must remove investment barriers and simplify legal procedures to prevent brain drain," he said while adding that alternative investment models should be allowed to facilitate the entrepreneurs.

Similarly, Nirvana Chaudhary, Managing Director of Chaudhary Group, said that fostering a positive entrepreneurial mindset among young people is essential for economic transformation.

Umesh Kumar Gupta, head of the Industrial Enterprise Development Institute, said that the startup landscape has been broadening in recent years, and it is poised for even greater growth in the coming days.

 Published in The Rising Nepal daily on 30 January 2025.