KATHMANDU: Prime Minister (PM) Balendra Shah has pledged to strengthen cooperation with the private sector to address economic challenges and create a more conducive environment for investment and business expansion.
During a discussion with entrepreneurs and business leaders at Singha Durbar on Friday, Shah said the government was committed to creating a conducive environment for investment and business expansion.
Rashtriya Swatantra Party lawmaker Bidushi Rana, who participated in the discussion, said Prime Minister Shah sought information about the problems faced by the private sector in operating industries and businesses.
According to Rana, Shah said domestic entrepreneurs should be given the first priority for investment in Nepal, followed by non-resident Nepalis, while foreign investment would be the third priority.
Business leaders said Nepali entrepreneurs are capable of developing large-scale infrastructure projects and stressed the need for policy and legal reforms to facilitate such investment.
Rana said business leaders emphasised that, as the private sector contributes around 80 percent to the economy, the government should create a conducive environment to maintain investor confidence and morale.
Business leaders also complained that the practice of arresting and detaining entrepreneurs as soon as allegations are made against them has lowered their morale.
Rana said an agreement was reached to hold discussions with the private sector every three months at the Prime Minister’s Office to review issues facing the private sector, legal amendments, and the investment environment.
Industrialists and businessmen Binod Chaudhary, Pawan Golyan, Umesh Shrestha, Chandra Dhakal anf others participated in the discussion.
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