By A Staff Reporter Kathmandu, Dec.2: Prime Minister Sher Bahadur Deuba has urged investors from home and abroad to invest in Nepal with confidence. Addressing the Silver Jubilee of the Society of Economic Journalists Nepal (SEJON) and SEJON Award distribution ceremony on Wednesday, Prime Minister Deuba said that the government would spare no effort to improve the investment climate in the country and reduce the cost of doing business.
“The country needs to develop in a short span of time. The government is not in favour of unnecessary controls, but in favour of necessary rules and facilitation. Therefore, I urge all domestic and foreign investors to invest in Nepal with confidence,” he said. “I would like to assure you that the government will guarantee security of your investment and property in Nepal,” PM Deuba said. He said that economic recovery would be accelerated now and that although the COVID-19 pandemic was not over, the situation was gradually returning to normal.
PM Deuba said, “The country now needs a massive second phase of economic reforms. The national economy has faced a difficult situation in the last two years. We may be in a lot of darkness now, but there is light at the end of the tunnel.” He said that open market policy had been introduced in the economic sector of the country after the restoration of democracy.
Stating that there had been some increase in private investment in the country, he said that the private sector had done exemplary work in industries, banks and financial institutions, airlines and hydropower. “Qualitative economic growth of the economy could not be achieved by the efforts of the government alone. Therefore, joint efforts of the private sector and other stakeholders are important and the support of foreign development partners is equally essential,” he said.
On the occasion, Prime Minister Deuba unveiled the SEJON’s journal ‘Artha Niti’ which focus on second phase economic reform. Speaking at the same event, Finance Minister Janardan Sharma said that it was necessary to make the working structure of the state more effective and the Public Procurement Act and other laws development-friendly for infrastructure development.
He said, “There are many challenges to Nepal’s economy. The COVID-19 has also affected the global economy. In such a situation, we need to increase capital expenditure, use new technologies in development and amend laws and regulations as per the needs of time.” Minister Sharma said that it was a must to control the import of luxurious goods as the trade deficit of the country had been widening. Vice-chairman of National Planning Commission (NPC) Dr. Biswo Nath Poudel said that it was necessary to make the Public Procurement Act and plan selection process transparent to accelerate development in the country. He said that the end of license rule was necessary for the development of the country.
“A clear blueprint is needed to enhance the development plan. The situation of budget transfer due to non-implementation of the project should be stopped.” Industrialist and MP Binod Chaudhary suggested widening the scope of the economy by making the state regulatory body more efficient. President of the Federation of Nepalese Chambers of Commerce and Industry Shekhar Golchha said that it was necessary to move ahead with the plan prepared by the FNCCI to strengthen the country’s economy.
President of the Confederation of Nepalese Industries Vishnu Agrawal stressed the need for discussion, coordination and cooperation among the government and the private sectors for the industrial development and to create job opportunities in the country. President of Nepal Chambers of Commerce Rajendra Malla suggested the government to address the issue of liquidity. On the occasion, Dr. Achyut Wagle and Rajiv Upadhyay were honoured while Ramesh Kumar Neupane of Himal Khabar and Sunita Karki of Annapurna Post were given the SEJON Awards.