CNI annual general meeting: Called for investment

CNI's 11th Annual General Meeting was concluded calling government to create conducive environment for investment

March 27, 2014, 5:45 p.m. Published in Magazine Issue: Vol: 07 No. -18 Mar. 21- 2014 (Chaitra 07, 2070)

At a time when the Prime Minister Sushil Koirala called on the private sector to invest on mega projects, the private sector demanded with the government to create conducive environment climate environment in the country.

“The government will protect your investment,” Koirala said, adding, “If you have any problems regarding security of your investment, you can come direct to me.”

Addressing the 11th Annual General Meeting (AGM) of Confederation of Nepalese Industries (CNI), Koirala said that government would spare no effort to improve investment climate.  However, private sector wants the commitment of the government in action. “As many as 22 governments were formed over the past two decades,” he said, adding: “Private sector lost two decades due to political instability,” said, Binod Kumar Chaudhary, president emeritus of CNI, delivering his keynote speech. "Political stability was affecting economic growth."

CNI President Emeritus Binod Kumar Chaudhary said, "we have remained idle for the last two decades and to compensate this loss, there is a need to accelerate the economy at a faster rate.”

Finance Minister Dr Ram Sharan Mahat sought investment commitment from the private sector in proportion to the reforms made by the government. “We will fulfill demands of the private sector, but they should put in significant amount of money to create more jobs and boost productivity,” said Mahat.

He also said the government would initiate second-tier reforms in the near future. “We can´t attract investment without ushering in reforms,” he added.

“As Nepal cannot remain isolated from open economy and liberal economic policy, there is a need to adopt liberal economic model and guarantee double-digit economic growth by drafting a strategic roadmap of the country’s economy,” said CNI President Narendra Kumar Basnyat, addressing its 11th annual general meeting here.

Confederation of Nepalese Industries (CNI) has demanded the government come up with “Vision-2024” (Vision 2080) to ensure prosperity in the country.

CNI has also demanded the government immediately endorse pending bills like Industrial Enterprises Act, Special Economic Zone Act, Foreign Investment and Technology Transfer Act and Labour Act.


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