Kathmandu: Economists and stakeholders have emphasized the need for collaboration and coordination between the government and the private sector for the development and expansion of the nation’s economy.
According to National News Agency Nepal, during the Economic Symposium organized by Baahrakhari Media in Kathmandu, speakers highlighted that economic development can be ensured through policy stability, the development of skilled human resources, an investment-friendly environment, and the use of information technology.
The speakers noted that impressive economic growth in the country is achievable if the government and the private sector work together by sharing a common viewpoint while ensuring policy reforms. Chandra Prasad Dhakal, President of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), proposed government collaboration to produce skilled human resources, emphasizing the pressing issue of reducing the brain drain of youths.
Dhakal also mentioned that the private sector would have an enabling environment for investment if policy stability is maintained. Furthermore, Rajesh Kumar Agrawal, President of the Confederation of Nepalese Industries, pointed out that funds from banks and financial institutions were not being effectively channeled for investment. He urged the government to investigate the reasons behind the poor investment-friendly environment.
Although some improvements have been noted due to positive government interventions, Agrawal called on the government to fully implement the feedback provided by the Confederation of Nepalese Industries for further reforms and economic growth. Additionally, Niranjan Shrestha, Managing Director of Laxmi Hyundai Group, emphasized the importance of encouraging startups for the nation’s economic development.
Professor Suresh Manandhar also contributed by stating that IT policy should be simplified and made more accessible to foster economic growth.