FNCCI hosts 'Startup Nation 2030' to boost domestic entrepreneurship

KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI), along with the Government of Nepal (Ministry of Industry, Commerce, and Supplies) and other relevant bodies, organised the Startup Nation 2030 conference in Kathmandu today.

During the programme, Prime Minister KP Sharma Oli emphasised the need to establish and expand numerous industries with minimal capital investment to enhance domestic production. He highlighted that young people and women, with innovative and creative thinking, could find employment opportunities within Nepal rather than seeking them abroad.

PM Oli encouraged youth entrepreneurship as a means to reduce imports, alleviate poverty, boost national confidence, and achieve sustainable development goals. He argued that banks and financial institutions should provide loans to enterprises based on project viability rather than using the enterprises themselves as collateral.

Addressing concerns about fraudulent elements tarnishing cooperatives, he assured that the government would promote cooperatives in a healthy manner. Additionally, the Head of Government emphasised the importance of technology, skills, and capital in enhancing entrepreneurship for successful domestic production.

Observing that any startup funded by the government should not fail, PM Oli pledged strong support for the private sector, emphasising that assuming the role of Prime Minister at his age comes with the responsibility to deliver something substantial.

On the occasion, FNCCI President Chandra Prasad Dhakal expressed his gratitude to the Prime Minister for attending the programme as the chief guest. He mentioned that in Nepal, the potential for youth-driven entrepreneurship remains untapped. However, recent developments signal a shift — a chance to engage our young population in economic growth.

President Dhakal stated, "Nepal, with 65% of its population aged between 15 and 64, holds immense promise. Many of our youth seek employment abroad due to limited opportunities at home. But the tide is turning. Political stability, robust foreign exchange reserves, and a favourable balance of payments create an environment ripe for rapid economic expansion." 

The two-day event represents a collaborative effort between the government and private sector organisations. Deputy Prime Minister and Minister of Finance Bishnu Prasad Paudel, Minister for Industry, Commerce and Supplies Damodar Bhandari, Minister for Labour, Employment and Social Security Sharat Singh Bhandari, and FNCCI President Chandra Prasad Dhakal were among those present at today’s conference.

The conference aims to position Nepal as a startup-friendly nation in South Asia by 2030, with the goal of establishing 10,000 startups and creating 100,000 jobs by the end of this period.