'Ordinance incentivizes private sector for investment'

Myagdi, Jan 22: Chairperson of Federation of Nepalese Chambers of Commerce and industry (FNCCI), Chandra Prasad Dhakal said the ordinance recently introduced by the government has incentivized the private sector for investment.    

In his address to the closing ceremony of the '8th Myagdi Festival, Maghe Sankranti, province-level agriculture, tourism, industrial and trade fair' at Beni on Tuesday, Chair Dhakal said the private sector was encouraged by the change in laws made through the ordinance.    

Dhakal said that the ordinance made to amend some Nepal Acts related to good governance promotion and public service delivery, economic procedures and financial responsibility, privatization and economic and business environment improvement, investment promotion and land would help boost investment.    

"The change in the laws has encouraged the private sector to spur investment," he said, adding, "The government has accepted the feedbacks of the private sector and amended the laws within a short time. It has imparted a message for positive environment for investment and security." 

According to Dhakal, the government has issued the ordinance as per the suggestions of the private sector to revive the economic sector which has been shrinking due to the corona epidemic, the Russia-Ukraine tension and the existing acts and laws of Nepal.    

He pledged to facilitate through the FNCCI to bring investment in agriculture, tourism and water resources related projects prepared by the industrialists and businessmen of Myagdi.    

Myagdi Chamber of Commerce and Industry Chair Subin Shrestha said the festival was successful in making economic activities vibrant, identifying possibilities, marketing local products, promoting tourism, identifying sports talents and preserving art and culture.    

There were 230 stalls of local and industrial products in the festival. Shrestha said 100,000 people visited the festival that drew a turnover of Rs 100 million. (RSS)