President Paudel Stresses Private-Government Synergy for Economic Growth

Kathmandu. President Ram Chandra Paudel has stated that the role of the private sector is extremely important in promoting industry and business, creating an investment-friendly environment, and developing entrepreneurship for the country's economic prosperity.

Addressing the inauguration ceremony of the 75th Diamond Jubilee year and Annual General Meeting of the Nepal Chamber of Commerce on Friday, President Paudel mentioned that the cooperation maintained by the Nepal Chamber of Commerce—the first representative organization of the private sector—with the government, stakeholder bodies, diplomatic missions, and development partners is commendable.

"The continuous contribution of this first representative organization of the private sector in promoting industry and business, creating an investment-friendly environment, and developing the country's economic prosperity is praiseworthy. The cooperation and role played by the Nepal Chamber of Commerce with the government, stakeholder bodies, diplomatic missions, and development partners are admirable," he said.

He stated that the Chamber has been playing an effective role through objective analysis in policy-making, clear views on economic challenges, and practical suggestions.

Noting that the economy has been affected by the impact of the Covid pandemic, disruptions in the supply chain, a decline in production and trade, and subsequent weaknesses seen in economic management, President Paudel emphasized that coordination between the government and the private sector must be further strengthened in such a situation.

He said, "This institution has been making its role effective by providing objective analysis in policy-making, clear views on the challenges of the economy, and practical suggestions. The impact of the Covid pandemic, disruptions in the supply chain, the decline in production and trade, and the subsequent weaknesses seen in economic management have affected the economy. In such a situation, it is necessary for the coordination and cooperation between the private sector and the government to be even more robust."

He mentioned that political stability is the foundation of economic prosperity and stated that only a stable government, clear policies, and long-term strategies can provide momentum to industrial development, investment expansion, and job creation.

"Political stability is the basis of economic prosperity. Only a stable government, clear policies, and sustainable strategies can give momentum to industrial development, investment expansion, and employment generation," he said.