Kathmandu, Nepal – In a significant step toward fostering economic development and prosperity, Prime Minister KP Sharma Oli emphasized the collaborative role of the government and the private sector. Speaking at the 59th Annual General Meeting and Industry Day 2081 of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the Prime Minister highlighted the government’s commitment to creating an investment-friendly environment and implementing policy reforms aligned with private sector suggestions.
“Our government is fully committed to working in partnership with the private sector. Recent policy reforms are a testament to this collaboration. Development is a collective effort, and we are setting an example of cooperation,” said Prime Minister Oli.
The Prime Minister further emphasized the importance of policy stability and transparency to enhance domestic and foreign investment. He also lauded FNCCI’s initiative to establish Nepal Development Public Limited (NDPL), calling it a commendable step toward resource mobilization for large-scale projects, which can contribute to economic self-reliance, export promotion, and import substitution.
Focus on Comparative Advantage: Foreign Minister Deuba
Addressing the gathering, Foreign Minister Arzu Rana Deuba stressed the need for industrial growth, focusing on Nepal’s comparative advantages and competitive capabilities. She urged for a concerted effort to increase the production and export of goods and services that reflect Nepal’s strengths, ensuring optimal use of domestic resources.
“Industrial development is indispensable for economic growth. The government and private sector must work together to accelerate development,” said Minister Deuba.
Industrial Development as a Priority
Industry Minister Damodar Bhandari reiterated that industrial growth remains a top priority for the government. He underlined the importance of a strong partnership between the government and the private sector to achieve national economic goals.
FNCCI President Chandra Prasad Dhakal also highlighted the private sector’s role as a leader in driving economic prosperity. “The private sector must be empowered to work seamlessly toward the government’s prosperity goals. Political parties should adopt a unified stance on economic policies to ensure consistent progress,” Dhakal noted.
Challenges in Policy Implementation
Senior Vice President of FNCCI stressed that while the government has introduced positive policy reforms, delays in implementation have hindered their effectiveness, creating trust deficits among stakeholders. He called for the private sector to be seen not just as a witness but as a partner in the country’s economic journey.
A United Vision for Progress
The event underscored a united vision between the government and the private sector to accelerate Nepal’s economic development. It also marked a call to action for stakeholders to overcome challenges and leverage collective strengths for sustainable growth.
This collaborative vision reflects Nepal's ongoing efforts to drive economic growth and prosperity, setting the foundation for a more self-reliant and globally competitive economy.
