Thursday, February 6, 2014

Development of small and cottage industries reflect investment friendly environment

Development of small industries reflects the business friendly environment in the country, according to the chairman of Council of Ministers Khil Raj Regmi.
Inaugurating the 12th National Industrial Trade Fair and Cottage Industry Festival and Renewable Energy Week-2014, here today, he said industrial development plays a crucial role to overall development of a country. "However, economic development eluded Nepal unlike political development," Regmi said, adding that the pace of economic development depends on industrial development. "Political progress and economic development should go hand-in-hand."
Likewise, renewal energy is key to development of small and cottage industries and it has to be developed side-by-side, he added. "The elected government is going to take charge of the country and it should focus on economic development."
Similarly, finance minister Shankar Prasad Koirala, on the occasion, said the development of small and cottage industries has no option. "The government is ready to help industrial sector," he said, adding that the rules and regulations would also be amended, if need be. "The government is also ready to work with the private sector for the industrial development."
However, the Nepali products lack effective promotion, he added.
Lack of energy has made it difficult to operate industries, Koirala said, adding that the private sector is suffering from the power shortage.
Calling for the active participation of private sector, energy minister Umakanta Jha, on the occasion, accepted the government's inability to provide adequate electricity to the private sector. "We have to look for alternative and renewal energy – except hydropower – as energy is key to development."
The five-day expo of the domestic products is jointly organised by the Federation of Nepal Cottage and Small Industries and Alternative Energy Promotion Centre from February 6-10. The five-day expo is showcasing herbal products, ceramic products, stone craft, wooden craft, leather and footwear products, agriculture products, and products related to solar energy and bio gas, and many more.

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