Thursday, September 6, 2012

NBF prepares action plan

The government seems interested in implementing the decision of the second High Level Business Forum held recently.
During an orientation and preparatory workshop jointly organised by Nepal Business Forum (NBF) secretariat and Ministry of Industry here today, member secretary of the Private Sector Development Committee under NBF Anil K Thakur stressed on the need to implement the decisions of the High Level Business Forum as they are directly related to supporting private sector development by improving investment climate reforms in the country.
Thakur, who is coordinating among line ministries on behalf of the implementing ministries, requested all relevant ministries to expedite implementation as per the guidance of the prime minister, who chaired the high level meeting recently.
"As the ministry is coordinating with all line ministries, we request for timely review and implementation of the same," he said, adding that the action plan prepared today can help implement the decisions with effective coordination.
Similarly, joint secretary at the Office of the Prime Minister and Council of Ministers Mahendra Man Gurung also stressed on the need for coordination between line ministries to achieve reforms as per the government's decision.
Gurung, who is also the coordinator of the Licensing Reform Task Force formed under the Office of the Prime Minister through NBF hoped that an orientation programme, coupled with an active involvement of the government and the private sector, will definitely help meet national targets on the investment climate reform front.
At the meeting, NBF members were given an orientation by the secretariat on the overall process for raising issues at working group meetings and moving them forward for effective implementation to achieve results.
A total of 28 recommendations have already been implemented — out of 121 — in 2012, which were brought and discussed at length in public and private sector meetings attended by secretaries and presidents of various business federations, among others.
NBF, the country's first national platform for public-private dialogue, has been supported by Nepal Investment Climate Reform Programme of the South Asia Enterprise Development Facility, managed by the International Finance Corporation, in partnership with the UK government and the Norwegian Agency for Development Cooperation.
The programme was primarily focused on orienting NBF members on its process and preparing action plans to implement the decisions taken in different working group meetings and at the High Level Business Forum with the aim of expediting reforms related to investment climate reform and private sector development.
As per the decisions of the High Level Business Forum, both public and private sectors had agreed to implement six issues which were forwarded after discussing with different working groups and the steering committee of NBF.
The meeting had decided to move forward on several key recommendations, including the implementation of a single trade union by holding an election, integration of the garment sector under Nepal Trade Integration Strategy, establishment of a Technology Development Fund of Rs 10 million, establishment of a second tier institution to regulate savings and credit cooperatives, and allowing foreign institutional investors in the stock market.
Moreover, the High Level Business Forum had also decided to form a high level committee under the convenorship of the vice chair of National Planning Commission to look into the issue of cash incentives for exports.

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