FM Rana stresses importance of private sector investment for economic prosperity
KATHMANDU: Minister for Foreign Affairs Arzu Rana Deuba has stated that the government is committed to the overall economic development and prosperity of the country.
Speaking at a special ceremony during the 59th annual general meeting (AGM) of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Commerce Day 2081, Minister Rana emphasised that economic development is only achievable through the active participation of private sector.
Highlighting the importance of private sector investment, Foreign Minister Rana mentioned that the government has addressed various policy and legal complexities to facilitate private sector growth and urged businesses to expand investment without hesitation.
"The current government was formed to address political instability, which has hindered economic development and prosperity," Minister Rana said. "The country cannot achieve prosperity without creating an environment conducive to private sector operations. Since the formation of the government, we have been amending acts and laws that obstruct economic progress. Now, the private sector must increase investment without hesitation, as it is the driving force of the economy," she added.
Minister Rana stressed the necessity of industrial development for the country's economic growth and called for efforts to increase production, productivity, and exports in areas where Nepal has comparative advantages and competitive capacity.
She also urged the private sector not to be discouraged by recent decline in foreign aid and stressed the need for collaboration between the government and private sector to maximise the use of domestic resources and accelerate development.
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