15th Chitwan Festival kicks off

By Our Correspondent,Narayangadh, Jan. 10: Minister for Industry, Commerce, and Supplies, Damodar Bhandari, has stated that the government is working to create a conducive environment for investment in Nepal. 

Speaking at the inauguration programme of the Chitwan Festival 2081 in Narayangadh on Thursday, he emphasised the need to address the complexities in the process of registering industries and businesses.

“The government is committed to improving governance through necessary policy and administrative reforms to foster an investment-friendly environment,” he said, adding that the government is amending economic laws to remove barriers to both domestic and foreign investment. “We are moving forward by revising obstructive laws and introducing investment-friendly policies,” he said.

He highlighted the need for support to industries and businesses and stressed the importance of offering favourable interest rates to encourage investments. 

According to Minister Bhandari, efforts are underway to ensure efficient governance in the industrial and business sectors. The government is working to enable young people to invest at low interest rates. This initiative reflects the government’s innovative approach to creating opportunities for youth, he added.

Mayor of Bharatpur Metropolitan City, Renu Dahal, lauded the festival’s role in driving Chitwan’s economic growth. 

The 15th edition of the Chitwan Festival, which was launched in 1996, will run until January 23. It features 430 stalls along the Narayani riverside.

One of the highlights this year is a live demonstration of extracting fibres from banana stems, showcasing how these fibres can be used to produce thread for fabric. According to the organiser, this initiative aims to promote innovative uses of agricultural resources. They expected that the festival would witness the footfall of around 500,000 visitors with transactions expected to reach Rs. 3 billion.