Kathmandu. The Confederation of Nepalese Industries (CNI) held separate meetings with Minister for Foreign Affairs Arju Rana Deuba and Chief Secretary Ek Narayan Aryal. In the discussion with the Minister for Foreign Affairs, newly elected President of the Confederation, Birendra Raj Pandey, stressed the need for economic diplomacy. Stating that it was not possible to achieve the target set by the country only through domestic investment, he stressed the need to create a legal, policy and easy business environment to attract foreign investment.
He stressed the need of mobilizing Nepali embassies and missions effectively to formulate a country-specific economic strategy and promote Nepali goods in the foreign market. He said that the confederation aims to increase the size of the country’s economy to $ 100 billion within the next decade and achieve double digit economic growth. He also expressed confidence that the government would provide necessary facilitation for this.
Minister Deuba said the government has given priority to legal and policy reforms to increase foreign investment along with domestic ones. Citing the example of the government that has already amended some laws, he said that other laws are going to be amended. Stating that economic development would not be possible without promoting the private sector, he said the government was serious about resolving the problems of the private sector.
Likewise, Chief Secretary Aryal congratulated the newly elected confederation team and said it was clear that the economy could not move forward without industry and private sector. He said the government has prioritized legal and policy reforms to boost private sector investment.
He said the government was preparing to amend around 120 laws related to the economic sector, industrial development and forests.
He also urged the government to give suggestions at the sector level for the development of the overall economy. Chief Secretary Aryal said that the government has brought guidelines regarding the use of indigenous goods in public bodies to increase the use of indigenous products. He also informed that the Public Procurement Act is being amended to make it mandatory to use indigenous goods.
