Friday, November 25, 2011

Government vows to create business friendly environment

Finance secretary Krishna Hari Baskota asked the business community to suggest on policy changes that can help create conducive environment for business. "The government will help them create business friendly environment," he promised inaugurating a brainstorming session organised by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Nepal Business Forum (NBF) today.
"Unless the export increases, the country cannot develop," he said, adding that the government is always positive on creating export-friendly policy.
Acting president of FNCCI, Bhaskar Raj Rajkarnikar, on the occasion, said that the private sector should redefine and reform its role in the changing socio-economic context. "Economic uncertainty is the major problem facing the country," he said, adding that the session could help identify 50 projects for Nepal Investment Year 2012-13.
Similarly, senior private sector development specialist of IFC Laura Anne Watson said that the session would be helpful in delivering the promise of Nepal Investment Year 2012-13. "Private sector is the vibrant development partner of government in every country," she said.
Nepal has improved its ranking on Doing Business indicators rising by three places to 107, which is a good signal to investors that the country is helping to create a better environment for entrepreneurs.
Some 23 representatives from 13 districts from the central development region and FNCCI executive committee members participated in the brainstorming session organised with the support of International Finance Corporation (IFC), a member of the World Bank.
The objective of the session was to identify issues hampering Nepal's business sector and recommend policy measures to the government.
Vice president of FNCCI Bhawani Rana explained that there are various committees in Nepal Business Forum like High Level Business Forum chaired by the Prime Minister, Private Sector Development Committee chaired by the chief secretary and Steering Committee chaired by the Minister of Industry. The recommendations will be forwarded to the relevant committees.

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