Kathmandu, July 29: Finance Minister Dr. Swarnim Wagle has urged the private sector to expand investment, assuring businesses that the government is committed to creating a stable and investment-friendly environment.

Speaking at the inaugural session of the Ministry of Finance’s budget implementation dialogue on Tuesday, Wagle said the government would continue introducing policy reforms to promote investment while ensuring the protection of businesses and investors.

He said the Rs. 2.124 trillion national budget is designed to support Nepal’s Rs. 6.6 trillion economy, with the private sector expected to play the leading role in driving economic growth.

The Finance Minister noted that the budget includes a range of reform measures aimed at increasing private sector participation and called on entrepreneurs and industrialists to identify any remaining policy or regulatory hurdles that need to be addressed.

Describing the current fiscal year as the first year of the government’s five-year economic roadmap, Wagle said the government has already launched several reform initiatives and is preparing additional measures to improve the business climate. He stressed that close cooperation between the government and the private sector would be essential to achieving the country’s economic goals.

More than two dozen representatives from the business community participated in the discussion, which lasted for around five hours. During the interaction, the Finance Minister assured participants that concerns related to excise and customs duties, export incentives and the banking sector would be addressed through an institutional mechanism.