Thursday, July 13, 2017

IMF delegation holds talk with FNCCI

A delegation of International Monetary Fund (IMF) led by deputy division chief of Asia and Pacific Department Gerard J Almekinders held discussions with the private sector on the industrial environment and investment climate in the country.
During the discussion here today, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) vice president Shekhar Golchha highlighted the team the policy instability and lack of robust infrastructure are the major constraints to accelerate the economic growth in the country by attracting foreign investment.
"The government has taken some initiatives like reforms in laws and policies to improve the investment climate," he said, adding that the country however lacks policy stability and political commitment to move forward.
The IMF team, on the occasion, opined that Nepal should increase investment in human capital and infrastructure to march towards higher growth trajectory. They also hoped for political stability after the local elections, which is crucial for the implementation of the new Constitution.
Stating that the country has recently embarked on the path towards federal structure, the visiting delegation said that Nepal government should to prudently manage the resources at the local level and enhance the spending capacity of local units to strengthen the federal system.

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