Government vows to support SMEs

The government, as usual, promised to support small and medium enterprises (SMEs).
Finance Minister Dr Yuba Raj Khatiwada today assured that there will not be any shortage of budget for small and medium scale enterprises and entrepreneurs.
Inaugurating 17th Handicraft Trade Fair kicked off here today – organised by the Federation of Handicraft Associations of Nepal (FHAN) – he said that the government is planning to provide subsidised loan to handicrafts entrepreneurs to prevent shortfall of investments in cottage and small enterprises. “The small and medium enterprises have a crucial role to drive the country’s economy, and thus they will remain the primary priority of the government while allocating the budget.”
“Every bank has an SME desk,” he said, adding that the government has also directed banks to promote and prioritise issuance of subsidised loans. “The SMEs are a sector with the highest export potential and thus, the government and banks and financial institutions (BFIs) should keep SMEs under due priority.”
But he asked entrepreneurs to come up with proper plans on their production target, potential market before seeking support from BFIs and government. The entrepreneurs should be clear about the nature of subsidy they seek from the government.”
Urging handicraft entrepreneurs to set up handicraft centres across major tourist areas in the country in coordination with the government to promote Visit Nepal Year 2020 (VNY2020) tourism campaign, he asked entrepreneurs to set up a few such centres inside and around Dasharath Stadium also targeting the flow of foreigners during the South Asian Games that starts in Kathmandu from Saturday.
The exhibition is showcasing a wide range of handmade products including metal craft, pauva painting, thangka painting, outfits made of pashmina, dhaka and allo fibers, and handmade paper, and wood products – produced across the country.
The five-day fair has altogether 200 stalls including seven pavilions, according to the federation. “India, Sri Lanka, Bangladesh and Pakistan are participating at the fair,” according to a press note issued by the FHAN.

Nepal photo and paintings exhibition starts

The Embassy of Nepal in Beijing today organised 'Nepal Photo and Painting Exhibition 2019' on the occasion of the 64th anniversary of the establishment of diplomatic relations between Nepal and the People's Republic of China.
Welcoming the guests, Nepali ambassador to China Leela Mani Paudyal shed light on the unique and exemplary relations of trust, friendship and co-operative partnership between Nepal and China, and highlighted the important achievements made during the past year in further enhancing bilateral relations, including the first state visit to China by the President of Nepal in April 2019.
He also expressed the confidence that Nepal and China will continue to work hand-in-hand to meet the development aspirations of their peoples, and to attain a just, inclusive and peaceful global order.
On the occasion, chairman of China International Culture Exchange Foundation Zuo Zhongyi extended congratulations on the occasion of the anniversary of diplomatic relations between Nepal and China, and expressed the hope that the relations between the two countries will continue to grow and flourish in the future.
Likewise, president of Federation of Handicraft Association of Nepal (FHAN) Surendra Bhai Shakya, Seal Carver and Sinologist Zhao Zengfu, Photographer Su Xue and secretary general of China International Culture Exchange Foundation Wang Xuejun also spoke on the occasion.
Dozens of photographs and paintings by Nepali and Chinese artists were displayed at the exhibition, together with traditional Nepali artworks and handicrafts. The event also featured performances by Nepali students and Chinese artistes.
Around 150 guests including representatives of the government of the People's Republic China, ambassadors and members of the diplomatic community, organisations and agencies related to art, culture and people-to-people exchanges, business enterprises, the media and friends of Nepal participated in the exhibition.
The exhibition – that will remain open for the public until August 7 – was organised with the support of China International Culture Exchange Foundation, Foreign Affairs Office of Sichuan Province, Luxehills Art Museum and Art Sino Cultural Development Committee. 

Nepal International Trade Fair from March 28

Federation of Nepalese Chamber of Commerce and Industry (FNCCI) is organising the eighth Nepal International Trade Fair in Bhrikutimandap from March 28 to promote the international market for Nepali products.
The fair – supported by the Ministry of Industry, Commerce and Supplies – will showcase 225 stalls featuring domestic and imported goods and services like handicrafts, tourism, information technology, agri products, energy, real estate, and education. "Ninety stalls will be from China," informed the FNCCI. The event is promoted by the Trade and Export Promotion Center (TEPC). Likewise, the Lalitpur Chamber of Commerce and Industry (LCCI) and Federation of Handicrafts Associations of Nepal (FHAN) are the co-organisers of the event.
The five-day event is bringing together entrepreneurs and traders from India, China, Bangladesh and Pakistan, according to FNCCI that organised a press meet today.
Handicraft items and domestic products like ginger, tea and Pashmina which are included in the Nepal Trade Integrated Strategy- 2016 will be the major attractions of the fair that will see greater interactions with business delegates from China, business talks and the signing of an agreement for joint-venture.
It is expected that high-level foreign delegations scheduled to arrive here to participate in the Nepal Investment Summit 2019 (March 29-30) will visit the event, further increasing its importance, according to FNCCI president Bhawani Rana. "Bilateral and multilateral meetings with business delegates have been scheduled on the sidelines of the fair."
Some 100 thousand people from home and abroad are expected to visit the fair which will conclude on April 1. 

Leather goods and footwear expo concludes

The 10^th edition of Leather Goods and Footwear Expo that concluded here today witnessed around 2,200 pairs of footwear being sold during the week, according to Leather Footwear and Goods Manufacturers Association of Nepal.

The expo also helped promote 'Made in Nepal' leather goods and footwear, said president of the association Hom Nath Upadhaya.

Though the domestic leather footwear has some 55 per cent market share, the need to promote 'Made in Nepal' leather goods and footwear is very crucial to generate employment and reverse the trend of deindustrialisation, he said, adding that more than 135,000 people visited the expo this year.

Likewise, president of Federation of Handicraft Associations of Nepal (FHAN), Hem Ratna Shakya asked the government to reduce customs duty on raw materials for footwear companies. "It will help make Nepali footwear competitive in the market,” he said.