Minister Bhandari meets FNCCI delegation, pledges to create private sector-friendly environment

KATHMANDU: Minister of Industry, Commerce and Supplies Damodar Bhandari has said that he will create an environment whereby the private sector will not have to come to Singha Durbar with grievances. 

Minister Bhandari mentioned this during a meeting with a delegation of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) in Singha Durbar, Kathmandu, on Wednesday. 

The Minister for Industry, Commerce and Supplies said that he is aware of the difficulties faced by business people and industrialists in the country and pledged to address the issues hurting the economy. He committed to helping increase manufacturing activities and informed that the ministry is working to develop short-term, medium-term and long-term plans. He said he would facilitate industries by introducing industry-friendly policies. 

Minister Bhandari also mentioned that during his tenure he would try to bring in institutional reforms in the ministry so that the private sector will feel confident to make investments. 

During the meeting, FNCCI president Chandra Prasad Dhakal urged Minister Bhandari to introduce policies that will boost the confidence of the private sector. Dhakal said it is important to boost the confidence of the private sector so that more domestic investments are made. He mentioned that domestic investments are necessary as foreign investors always look at the flow of domestic investments in the market before making investments.

The only way we can increase foreign investment in the country is by increasing domestic investment, said Dhakal. Nepal needs investments to grow the economy so investor-friendly policies must be introduced, he reiterated. He also informed Minister Bhandari about the high rent being charged in the Special Economic Zones and Industrial Areas and requested the minister to look into the issue.