Govt committed to cooperation with private sector to boost economic activities: Minister Bhandari

KATHMANDU: Minister for Industry, Commerce and Supplies, Damodar Bhandari, has stated that the government is committed to cooperating with the private sector to advance economic activities.

Addressing the opening ceremony of PlastNepal Expo 2024, a three-day international plastics exhibition that commenced at Bhrikutimandap today, Minister Bhandari emphasised that the challenges facing the national economy cannot be resolved without private sector collaboration. He noted that recent economic indicators have shown improvement.

"The capital market should thrive with a boost in domestic production and a reduction in the trade deficit," he said, adding that introduction of latest technology would ensure an upward trend in economic activities.

Bhandari highlighted that the major challenge is to replace imports and increase exports, for which preparations are underway to amend various laws related to industry and business. He assured that the government would encourage domestic investors.

The Industry Minister further stated that Nepal has an investment-friendly environment, and industrialists should feel confident and not worry.

At the fourth edition of PlastNepal Expo 2024, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal and other businesspersons praised the government's initiatives to improve the economic situation in line with private sector suggestions.

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