President Paudel urges investors not to be discouraged

KATHMANDU: President Ramchandra Paudel has urged industrialists and businesspeople not to be discouraged following the arson and vandalism during protests on September 8 and 9, and said the state stands with the private sector.

Speaking at a meeting on Friday at Shital Niwas with chiefs and representatives of private sector organisations, including the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), President Paudel said building an investment‑friendly environment through political stability, good governance, and peace and security is the need of the hour.

"The incident that occurred on September 8 and 9 ... there was an arson attack and vandalism on national and private property. There was huge loss of life and property. This is tragic," he said. "But I urge industrialists and businesspersons not to be discouraged. The state is with you."

Paudel said that declining investor morale is a serious concern for the economy and called on the state to guarantee security for the public and private sector. He described the private sector as the main foundation of the country's economy and urged the government to create an environment conducive to investment while maintaining peace and security.

Private sector representatives told the president it is necessary to control what they called malicious infiltration under the pretext of protest and to end impunity to restore peace, stability and investor confidence. They also called for the upcoming elections to be completed on time and pledged support for the electoral process.

FNCCI President Chandra Prasad Dhakal said the infiltration during the September protests caused extensive damage to public and private property and demanded action against those responsible. "The agendas of good governance and transparency raised in the Gen‑Z protest are agendas that FNCCI has been raising. However, the recent Gen‑Z protest and the infiltration during that course have caused huge damage to private industrial establishments," he said.

Dhakal added that the situation has weakened the morale of the public, industrialists and businesspeople and stressed the need for guarantees of the rule of law. "If impunity gets encouragement, tomorrow's situation could become more serious," he warned, calling for industrial security, legal guarantees and effective implementation.

Shekhar Golchha, FNCCI's immediate past president, warned that failure to register FIRs against the culprits and indifference in taking action would increase impunity, further damage the investment climate, and leave the risk of recurrence.

Nepal Chamber of Commerce (NCC) President Kamlesh Kumar Agrawal said the September incidents have weakened business confidence and that guarantees of peace and security must be the first priority.

Confederation of Nepalese Industries (CNI) President Birendra Raj Pandey urged state mechanisms to take the maintenance of personal and industrial security more seriously, saying stability cannot be maintained without peace and security.

The meeting was attended by FNCCI vice presidents Sur Krishna Vaidya and Hem Raj Dhakal, treasurer Bharat Raj Acharya, Hotel Association Nepal President Binayak Shah, and businesspeople including Min Bahadur Gurung, Nirvana Chaudhary and Sahil Agrawal.