Industrialists demand amendment to policies, rules that hinder investment before holding investment conference

Published On: January 14, 2024 12:20 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Jan 14: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has demanded that before the investment conference that the government is going to organize, the policies and rules that hinder investment should be amended.

During his address to the 43rd Annual General Meeting of the Nepal Handicraft Federation on Saturday, Chandra Prasad Dhakal, president of the FNCCI, said that before the upcoming investment conference, it is necessary to improve the policies and regulations that hinder investment. The government is preparing to organize an investment conference in the Nepali month of Baisakh.

Chairman Dhakal emphasized that the government should introduce a policy to promote domestic production. He complained that even though entrepreneurs are given CIP awards every two years, it takes a year for lobbying.

He also demanded the inclusion of industrialists and entrepreneurs in the national order of dignity. He said that even during CIP, they had to face very uncomfortable and difficult situations and asked Deputy Prime Minister and Home Minister Narayan Kaji Shrestha to ease the situation. 

In the program, Nepal Chamber of Commerce (NCC) President Rajendra Malla said that the government should take initiatives to solve the problem of exports. He said that by opening an online gateway for export promotion as soon as possible, there should be an arrangement for the amount of materials exported to foreign countries to come into entrepreneurs’ own accounts.

“We have nine times more imports than exports. Exports should be promoted. Provisions should be made that the raw material which is meant for export should be imported directly by the person who exports it without any middleman. This arrangement will promote exports, especially in metallurgical materials,” Malla said.

Similarly, NCC President Malla said that Nepali handicrafts should be made a means of learning and earning foreign currency. He also pointed out the need to make it effective as there is a lack of one-way system in export promotion.

Home Minister Shrestha said that the government is positive to include the industrialists and entrepreneurs in the national order of dignity. He said that he is going to call a meeting with the Prime Minister along with the Ministry of Industry, Commerce and Supplies and other relevant agencies to solve the problems of industrialists.

He also promised to convene a meeting with the Prime Minister within 15 days to address policy and other problems facing the private sector.


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