Prime Minister Balendra Shah met leading industrialists and business representatives at Singha Durbar on Friday Sept. 11.
The attendee were the prominent industralist faces such as BInod Chaudary, Bidushi Rana (also a lawmaker) Pawan Golyan, Umesh Shrestha and Chandra Prasad Dhakal.
The meeting was focused on boosting Nepal's economy by prioritizing domestic private investment, offering state-backed infrastructure for remote manufacturing, and easing aggressive state investigation pressures.
During the meeting, Shah said that when it comes to investment opportunities in Nepal, Nepali investors should be given the first priority followed by non-resident Nepalis and hence foreign investors.
Discussions were also held about the difficulties faced in running businesses and industries to which the conclusion was made of Nepali entrepreneurs having the ability to invest but there needs to be some changes in the laws and government for the ease of the investment.
Concerns were also raised about the investment environment, government procedures and the challenges that private companies faces.
The discussion lasted around two hours, although it was planned to be much shorter.
It was also agreed to hold similar discussion meetings between representatives of the government and private sector every three months.
The government’s focus on Nepali investors could encourage domestic businesses to invest more in Nepal. However, business leaders are likely to watch whether the government actually introduces the legal and policy changes needed to support investment.
