KATHMANDU: Finance Minister Dr Swarnim Wagle has said protecting legally made investments, created assets and earned profits is a major responsibility of the government.
Speaking at a meeting with representatives of 20 major multinational companies at the Ministry of Finance on Monday, Wagle urged the companies to increase investment, expand their industries, introduce new products and bring new technologies into Nepal.
He assured the representatives that the government would support their efforts.
“Entrepreneurs must be able to trust that their assets are secure, rules are stable, the tax system is predictable and the state stands as their partner,” Wagle said. “Without building that trust, large investments will not come and industries will not expand. Only by building that trust can economic transformation become possible.”
Wagle described the meeting as more than a formal interaction, saying it marked an effort to establish deeper trust, cooperation and commitment between the government and the private sector, which he said plays a leading role in nation-building.
He said issues raised by the business representatives would be coordinated with the relevant ministries within specified timelines. The Ministry of Finance would also establish a “response desk” to monitor the implementation of commitments, he said.
According to Wagle, dialogue between the government and private sector would continue until the issues raised by businesses are resolved.
“We want to create an environment where society takes pride in the success of industries, investors feel secure, taxpayers are respected and young people are encouraged to become entrepreneurs,” he said.
Wagle said the government was working to make Nepal a more investment-friendly, business-friendly and production-oriented economy.
He also stressed the need to further strengthen the partnership between the government and private sector, expressing confidence that the coming decade would become a decade of greater investment, production, employment and confidence in Nepal.
Representatives from 20 companies participated in the meeting, including Surya Nepal, Ncell Axiata, Aarti Strips, Gorkha Brewery, Himalaya Airlines, Hongshi Shivam Cement, Doosan Enerbility, Dabur Nepal, Bottlers Nepal (Terai), Unilever Nepal, Asian Paints Nepal, Power Construction Corporation of China, Gorkha Lahari, Huaxin Cement Narayani, New Hope Agro Business Nepal, Nepal Wellhope Agri-Tech, Varun Beverages Nepal, Turkish Airlines, Bhotekoshi Power Company and Berger Jenson & Nicholson Nepal.
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