Kathmandu: The businesspersons representing various organizations have expressed mixed views on investment atmosphere and industrial development in the country.
According to National News Agency Nepal, during a programme organized by the Department of Financial Institution Coordination of Nepali Congress at its office in Sanepa, FNCCI President Chandra Prasad Dhakal argued that negative narratives were being spread via social network sites, discouraging investors. He emphasized the need to correct these narratives and highlighted that Nepal’s laws, budget, and monetary policy are favorable to the private sector, which he believes will attract further investment.
Chairman of the Development Bankers’ Association, Suyog Shrestha, expressed concerns over the lack of cooperation from local government in promoting investment. He stressed the importance of creating a favorable atmosphere for investment and cautioned against relying solely on remittance for the national economy.
Similarly, Upendra Paudel, Chairman of the Commercial Bank and Financial Institutions’ Confederation Nepal, pointed out the need for adequate infrastructure in the tourism sector. He noted that banks and financial institutions are providing loans to those looking to establish businesses and industries after returning from foreign employment, and he emphasized the need to build their capacity.
Former governor of Nepal Rastra Bank, Dr. Chiranjivi Nepal, commented positively on the government’s budget, stating it sends a positive message and boosts economic activities. He added that the monetary policy is flexible, which has helped reduce interest rates.
Niraj Giri, former Executive Officer of the Security Board of Nepal, argued that a favorable atmosphere has been created for the capital market and suggested that the SEBON Act requires amendment.
Chartered accountant Anal Raj Bhattarai observed that the electricity, transport, and financial sectors are making significant contributions to the national economy.