PM Dahal stresses need to instil confidence in private sector for development

KATHMANDU: Prime Minister Pushpa Kamal Dahal has underscored the importance of fostering confidence in private sector and conveying that the nation provides an environment that is favourable to investment. 

During a meeting convened today at the Office of Investment Board Nepal in New Baneshwor, Prime Minister Dahal articulated that for the sake of development and prosperity, the private sector should be supported rather than restrained.

"We must foster confidence in the private sector and devise a new development model," PM Dahal stated, "Development will not transpire unless the private sector is confident, so let's support the private sector, rather than restraining it."

He expressed that the concept of controlling development is not viable in today's world, and instructed to adopt a policy that promotes development as it is the sole means to fulfil the people's aspirations. He emphasised that everyone should adopt a positive attitude to ensure the success of the Nepal Investment Summit, and instead of presenting a 'wish list' at the Investment Summit, tangible and practical projects should be showcased.

"Let's showcase tangible and practical projects, not a 'wish list', at the investment summit," PM Dahal proposed, "We have amended the law ahead of the summit, which will facilitate an increase in investment, so let's organise the summit to deliver a fresh message."

Nepal Investment Summit is scheduled to be held in Kathmandu on April 28-29.

He suggested that the procedure of development projects should be streamlined, and that political leadership should be capable of overcoming such situations even when there are challenges in accomplishing something beneficial. He stressed that priority should be accorded to the steel industry in Nepal, and that concerted efforts should be made for the establishment of such industries. He instructed to prioritise irrigation to generate employment in agriculture and to proceed if the development work is impeded.