Government, private sector should work together to boost economy

Kathmandu: Economists and stakeholders have emphasized the need for collaboration and coordination between the government and private sector for the development and expansion of the nation’s economy.

At the Economic Symposium organized in Kathmandu on Saturday, the speakers said the path to economic development can be ensured only through policy stability, development of skilled human resources, investment-friendly environment and use of information technology.

They viewed that impressive economic growth in the country was achievable if the government and private sector worked together by sharing a common viewpoint while ensuring policy reforms.

President of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) Chandra Prasad Dhakal proposed to the government for collaboration to produce skilled human resources in the country, adding that the production of skilled human resources was a pressing issue while reducing the brain drain of the youth.

Dhakal viewed that the private sector will have an enabling environment for investment if policy stability was maintained in the country.

Likewise, President of Confederation of Nepalese Industries Rajesh Kumar Agrawal said that the money from the banks and financial was not channelized for investment and asked the government to explore the reasons for poor investment-friendly environment.

Though some improvements were seen due to the positive interventions from the government side, Agrawal asked the government to fully implement the feedback given by the CNI for further reforms and growth in the economy.

On the occasion, Managing Director of Laxmi Hyundai Group Niranjan Shrestha stated that startups should be encouraged for the development of the economy in the nation.

Likewise, Professor Suresh Manandhar said that IT policy should be made simpler and accessible.