Kathmandu, Feb. 11: Prime Minister KP Sharma Oli has said country's prosperity was possible only through the joint efforts of the government and the private sector.

Addressing the Commercially Important Person (CIP) Honour and Decoration ceremony organised by the Ministery of Industry, Commerce and Supplies here today, the PM also reiterated that the government was ready to join hands with the private sector as well as to address their difficulties and inconveniences.

"There was problem in the export of betel nut, ginger and palm oil some time back. The problem is resolved at present and the government is facilitating in various sectors related to export," he said giving examples of the government's initiation towards resolving problems seen in the export trade.

Calling on the private sectors to work towards production growth, job creation, import substitution and export promotion, the Prime Minister assured of the government's full support to the private sector.

"Be assured and carry out work with confidence. Tell me if any difficulty arose," he said reassuring the business community.

Stating the country was moving ahead towards the phase of economic prosperity, PM Oli asserted that the forthcoming efforts would be centred on good governance and economic development.

"Now we are enthusiastic about the new path. Good governance and development would not be possible unless the entire country geared for development works. There is need of joint cooperation from the private sector for development and prosperity. We should put in our collective efforts for good governance and country's development," he opined.

As he said, the government and private sector held common understanding in regard with development and prosperity affairs, and now they should be together for the promotion of good governance.

He made it clear that good governance was never a hurdle to development and prosperity, urging the private sector to follow transparency, fairness and a rule of law.

The government had come up with several efforts to facilitate private sector for investment, the Prime Minister said, adding the investment atmosphere had been ensured. " One point service has been established, atmosphere for investment has been build," he said wishing for a balanced and a good relationship between financial institutions and business community and cordial relations between the government and business community.

On the occasion, Minister of State for Industry, Commerce and Supplies, Motilal Dugad, said the private sector had its significant role in the nation's economic sector and the honour would obviously help boost up the morale of private sector.

"The government is always active to promote the investment environment in the country and we are committed to promoting trade and industrial sector."

He urged business community to invest with confidence, citing the State would be always with them.

Secretary at the Ministry of Industry, Commerce and Supplies Dr Baikuntha Aryal said he hoped the honour would motivate business community to further contribute to the development of nation's economy.

Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Bhawani Rana said the honour had further enthused the business community.

The private sector was walking hand in hand with the government for the elevation of nation's economy and it was ready to collaborate with the government in a journey for prosperity.