Wednesday, 28 February, 2024

Two-Day Infrastructure Summit 2019 concludes on Thursday

File Photo

By A Staff Reporter
Kathmandu, Sept. 12: Nepal Infrastructure Summit 2019 conlcuded on Thursday. Addressing the concluding ceremony of the Summit, Minister for Industry, Commerce and Industry Matrika Prasad Yadav urged the private sector to have similar views in business and investment policies.
"Private sector business associations come to the government with different, sometimes confronting demands which push the government into a fix," he said. 
He said that the government had been trying to create better environment for the private sector and foreign investors and facilitate them with simpler process and a favourable legal and policy framework.
Minister Yadav suggested the private business community to create a business front to fight for their interest.
"You can create a front of all business association and make a single opinion in terms of business policies, it will help the government in terms of creating uniform policies," he said.
"You can learn from the political parties in creating a front to push your interest and demands. Two large communist parties formed an alliance in the last election, and you have seen the results," he added.
According to him, the government and the private businesses in the country should focus on increasing domestic products and substituting imports.
Minister Yadav also made a call for inviting investment in Nepal stating that the political stability after decades of instability was achieved and political transition was concluded and the country had the sole agenda of economic development.
"Nepal is a virgin land for investment in any area, I would like to welcome both the Nepali and foreign investors," he said.
He also maintained that the government would put every effort to create and maintain conducive investment climate. Most of the laws and policies related to business and investment are amended so that they would support private investment.
The two-day summit has witnessed the presence of about 500 investors and businesspersons and brought together 60 partners and collaborators.
Vice-President of CNI Birendra Raj Pandey said that 115 projects were showcased at the summit. However, most of the projects are just identified and do not have even a pre-feasibility study.