KATHMANDU, Oct 8: President Ramchandra Paudel has said building a prosperous Nepal is not possible through government efforts alone, but requires a shared national commitment from the state, private sector and society.
During a meeting with officials of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) on Wednesday, President Paudel expressed the expectation that the private sector would take a more responsible, creative and leading role in turning the vision of a prosperous Nepal into reality.
He appreciated the private sector’s contribution to Nepal’s economic development and stressed the need for government-private sector collaboration to make the economy more dynamic, productive and competitive.
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Paudel said the growth of the federation and the progress of more than 1.4 million businesses associated with it would contribute to the country’s overall progress. He said the private sector has an important role in economic development, job creation and improving citizens’ living standards.
He said the government needs to ensure policy stability, investment protection, infrastructure development, efficient administration and a business-friendly environment, while the private sector should expand investment, production, entrepreneurship, innovation and job creation.
According to Paudel, greater trust and cooperation between the government and private sector can lay a strong foundation for economic prosperity.
He said Nepal’s priorities should include increasing production, promoting exports, attracting domestic and foreign investment, creating jobs and enhancing the competitiveness of the Nepali economy.
Paudel also stressed the need to effectively harness opportunities in hydropower, tourism, agriculture and agro-based industries, information technology and manufacturing.
He said creating employment and entrepreneurial opportunities for young people within the country should be a shared responsibility.
The President expressed confidence that, amid digital transformation and growing global competition, the FNCCI would play a greater role in connecting Nepal’s business network with international markets and promoting Nepali products, services and enterprises globally.
