President Paudel inaugurates 75th AGM of NCC

KATHMANDU: President Ramchandra Paudel inaugurated the 75th annual general meeting of the Nepal Chamber of Commerce (NCC) in Kathmandu today.

Addressing the inauguration, President Paudel urged closer collaboration between the government and the private sector to drive the country’s economic development. He said the fundamental basis of economic prosperity is trade and business and called for a government–private sector partnership to promote industry.

“Through the successful House of Representatives election, which provided a way out of a complex situation, the path has been paved for Parliament and the government to advance on the path of economic prosperity through good governance,” President Paudel said.

He added that the incumbent government, which bears the profound responsibility of nation‑building, is expected by the public to advance economic development in partnership with the private sector through streamlined service delivery and the implementation of development plans to improve living standards.

Stating that political stability is the foundation of economic prosperity, he said only clear policies and sustainable strategies will lead to industrial development, investment expansion and job creation, and that providing employment opportunities domestically is the need of the hour.

“Today’s youth are the future of the country, and if employment opportunities can be created for them within the country, it becomes easier to lead the nation on the path of prosperity,” he said, emphasising the need for coordination among the federal, provincial and local levels.

“We need innovative, creative and bold decisions going beyond traditional thinking in today’s competitive era. The digital economy, green development, technology‑based entrepreneurship and the development of a start‑up culture are needs of the day,” the President added, saying the private sector should be treated as a partner in nation‑building, not just as a tax‑paying entity.

He lauded the NCC’s role in the country’s economic development, the promotion of industry, building an investment‑friendly environment and fostering entrepreneurship.

On the occasion, NCC President Kamlesh Kumar Agrawal said the country had not achieved the expected economic development because of a lack of coordination between the private sector and government and underlined that there are many areas for improvement. He said the NCC has been continuously supporting and coordinating with the government to make the country’s economy more vibrant and has acted as a bridge between the two.

Likewise, NCC Senior Vice President Dipak Kumar Malhotra urged the government to inspire young people to innovate and to encourage technology‑based businesses. He said it was necessary to build an environment conducive to attracting foreign investment and expressed the belief that industrial development would follow now that political stability has been established.

(With inputs from RSS)