Stakeholders call for ensuring investment climate for innovation

Kathmandu: Stakeholders have emphasized the need to adopt a one-door system, eliminate legal hurdles, and foster an investment-friendly environment for small and medium-scale industries focused on innovation.

This call was made during an ‘Innovation and SME Conference’ organized by the Nepali Congress’ Department of Industry and Small and Mid-Scale Entrepreneurship Development.

The conference, which began on Wednesday, featured key figures from the business and entrepreneurship sectors. FNCCI Chairman Chandra Dhakal commended the government’s recent ordinances, viewing them as positive steps to boost economic activity. “I appreciate the government’s recent ordinances and urge swift enforcement to accelerate growth,” Dhakal stated.

Shova Gyawali, Chairwoman of the Nepal Women Entrepreneurs’ Federation, stressed the importance of prioritizing Nepali products. “Economic networking plays a crucial role in running industries and enterprises, and banks and financial institutions must have greater trust in these industries,” she noted.

Siddanta Raj Pande, CEO of Business Oxygen, highlighted the urgency of creating a favourable environment to retain youth in Nepal by eliminating legal obstacles that hinder investment and industrial operations.

Nirvan Chaudhary, Director at Chaudhari Group, countered that financial institutions have played a vital role in shaping the country’s investment climate.

Umesh Kumar Gupta, Chief of the Industrial Development Corporation, pointed out that innovation is gaining momentum in Nepal, affirming support for anyone fully engaged in entrepreneurship.

The discussions underscored the need for coordinated efforts to create a conducive environment for innovation and industrial growth in the country.