Kathmandu, May 4: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has said that continuous efforts are being made for the country’s economic reforms.
Addressing a program organized by the Management Association of Nepal (MAN) for pre-budget discussions, Finance Minister Paudel said that different laws were amended in the first phase to promote investment and ensure good governance. In the second stage, economic reforms are being initiated through legal reforms, which will continue, according to the Finance Minister.
Minister Paudel stated that several laws were amended through ordinances to facilitate investment and promote good governance.
During the event, Finance Minister Paudel emphasized that the government is pririotizing the private sector, but acknowledged that the private sector is facing challenges in making investments due to policy instability.
Additionally, he informed that the Alternative Development Finance Mobilization Bill has been introduced in parliament to promote economic development and investment, and assured that the Bill will be passed soon.
Finance Minister Paudel also addressed the issues in the cooperative sector, stating that while it is a significant pillars of the economy, some actors within the sector have been violating cooperative principles.
Anjan Shrestha, Senior Vice President of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Dipak Malhotra, Senior Vice President of Nepal Chamber of Commerce (NCC), and other speakers shared their perspective on the upcoming fiscal year’s budget emphasizing the need to facilitate investment in the country.
They suggested structural reforms in the economy, boosting the morale of the private sector, prioritizing the information technology sector, and focusing on youth and women entrepreneurship development. #nepal #investment
