Friday, April 6, 2012

PM asks private sector to cooperate government to attract investment

46th AGM of FNCCI

Prime Minister Dr Baburam Bhattarai asked the private sector to join hand with government for the overall development of the country.
“The government is focused on promoting investment and is preparing the required infrastructure,” said the Prime Minister inaugurating the 46th annual general meeting of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) here today.
He also advised the private sector to work more effectively for the economic stability of the country. “The country needs huge investments for economic prosperity,” the premier said, adding that the government has already announced 2012 -13 as Nepal Investment Year to attract investments. “The private sector should, therefore, be more focused on bringing home more investments.”
The Prime Minister also questioned on the effectiveness of the private sector because of which various development programmes initiated by the government have not materialised. He blamed contractors, who have failed to complete construction of roads and bridges within the time.
“Tourism and agriculture sectors are profit oriented sectors,” he said, urging the commercial banks to focus on these sectors. “Commercial banks should be encouraged to invest for the development of the agriculture sector.”F
NCCI also outlined its priority during the annual general meeting. “Energy, infrastructure, tourism, agriculture and forestry, service sector, and mines and mines based industries, One Village One Product (OVOP) and One District One Product, and promotion of exports is important, according to the umbrella organization of the private sector, apart from investment promotion and creating employment opportunities. According to FNCCI, the ‘Industry and Commerce Day’ will not be centralised to Kathmandu only but will also be celebrated in all the five development regions.
At the AGM, president of FNCCI Suraj Vaidya, said that FNCCI has developed a common concept paper to promote the industrial sector in the country. "We will discuss on the paper and make it more comprehensive and practical in closed sessions," he said.
According to him, the concept paper will be discussed with political parties, experts and other stakeholders. "I hope all political parties will agree on the matter," he said, suggesting the government to link labour wages with productivity. “The new Labour Act needs to be brought soon,” president of the umbrella organization of the domestic private sector added. “The government must commit to the market economic policy and monitor and regulate the market according to the policy.”
Meanwhile, FNCCI will also celebrate the ‘Industry and Commerce Day 2068’ on April 10.


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