Nepal’s Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has reaffirmed the government’s commitment to fostering an investment-friendly environment, driving economic transformation, and bolstering the country’s industrial sector. During the inauguration of the Hyundai Motor Assembling Plant of Laxmi Motor Corporation in Nawalparasi, PM Prachanda emphasized the pivotal role of the private sector in propelling Nepal’s journey towards prosperity.
“The country’s economy cannot be made robust without the investment of the private sector and the collaboration between the State and the private sector,” Prachanda stated, underscoring the government’s unwavering support for creating a conducive climate for investment, promoting the private sector, and ensuring security and facilitation in investment areas.
The Prime Minister expressed confidence that the launch of this new industry would attract both domestic and foreign investors, drawn by Nepal’s industry-friendly environment. He highlighted the potential benefits of localized motor assembly, including import substitution, job creation for skilled and semi-skilled workers, and increased consumption of domestic resources and electricity.
Prachanda stressed the importance of promotional fiscal and monetary policies, asserting that these policies and laws should contribute to production and employment promotion. “Our fiscal and monetary policies should be promotional, rather than restrictive,” he said, emphasizing the government’s commitment to fostering an environment conducive to economic growth.
The Prime Minister pointed to positive domestic and external economic indicators as a result of the government’s consistent efforts. He cited the recent Third Investment Summit, where important acts were amended and an ordinance was introduced to address challenges in the investment sector and encourage both internal and external investment.
“The enthusiasm seen at the investment summit, the common viewpoint and commitment witnessed in the political parties of Nepal, and the attraction of the investors have indicated towards Nepal soon becoming an attractive destination for investment,” Prachanda remarked, expressing optimism about the country’s investment prospects.
As Nepal embarks on its industrialization journey, the government’s focus on investment-friendly policies, private sector collaboration, and regulatory reforms aims to position the nation as an attractive destination for both domestic and foreign investors, driving economic transformation and fostering sustainable growth.
