FNCCI 54th AGM commences – PM urges private sector to invest within country

KATHMANDU:- Prime Minister KP Sharma oli inaugurated the 54th annual general meeting of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) at his residence Baluwatar today.
Addressing the AGM, PM Oli urged the private sector to invest within the country for boosting national economy. Joint efforts of the FNCCI and three-tier government could help restore economy dented by Covid-19. The government is committed to revive economy gradually, he added.
The PM however reminded that Nepal witnessed little economic growth due to Covid-19 pandemic. Significant economic growth can be ensured with joint efforts of the government and private sector, he argued, adding that government would provide equal assistance to all.
Moreover, PM Oli said although Nepal seeks assistance, our deposit is not that satisfactory.
Lauding the role played by the private sector to uplift the country’s economy by the private sector, Prime Minister said that the private sector’s role towards trade, business and commerce sectors is admirable.
He also expressed happiness towards private sector’s eagerness towards constructive works, to forward new business and to discover new areas of business rather than the government.
The PM urged the industrialists to invest in agriculture sector, saying it was necessary to modernize, commercialize and industrialize the agro sector along with industries to achieve prosperity.
PM Oli clarified that he was hopeful that a collective initiative would be taken by the private sector to create opportunities of employment, to use technology, to increase productivity in agriculture sector.
Assuring that the government would treat all as per the law, provide security and protection in an appropriate manner, Prime Minister Oli stressed that transparency and clarity was necessary in business.
The PM urged the private sector to invest in the country, saying the government has also urged the foreign investors for the investment in Nepal.
“Foreign investors would not have been invited if we had developed and expanded efficiency of private sector investors of the country. This is not a proper way for investors to invest in foreign countries. There are many investment opportunities in the country itself. We have cheap labour market. So, high profits can be achieved here,” he said stressing the need to save national capital and industry.
PM Oli urged domestic investors to invest within the country. Saying that the government was ready to hold discussions and facilitate the ways the government is to take to expand investments within the country and create environment conducive for industries, he urged private sector to be clarify on the areas needing grants.
Stating that private sector has been in dilemma in moving ahead amid economic sector of the country severely affected by global COVID-19 pandemic, President of the Federation of Nepalese Chambers of Commerce and Industry, Bhawani Rana stressed the need for the government to take initiatives in providing job opportunities to the youths who have returned home from foreign employments due to the infection and 1 million unemployed youths within the country.

Published Date: Thursday, November 26th, 2020 | 09:33 AM

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