President Paudel Urges Government to View Private Sector as Key Partner in Nation-Building

Kathmandu. President Ramchandra Paudel has stated that the private sector should not be viewed merely as a tax-paying entity, but as an integral partner in nation-building and the economic engine of the country. Addressing a special event marking the 75th anniversary of the Nepal Chamber of Commerce, he asserted that the national economy can only be robust if the private sector is strong.

Noting that the impact of the COVID-19 pandemic, supply chain disruptions, declines in production and trade, and subsequent weaknesses in economic management have severely affected the economy, he emphasized that collaboration between the government and the private sector must be strengthened during these challenging times. Praising the role of the Nepal Chamber of Commerce in economic prosperity, promotion of industry, and creating an investment-friendly environment, President Paudel highlighted the importance of the practical suggestions provided by the organization in policy formulation and addressing economic challenges.

Discussing that the future of the country lies in the hands of the younger generation, he emphasized the need to create sufficient opportunities within the country to curb brain drain. He stated that engaging youth in economic activities through entrepreneurship, technology, and creativity is a primary necessity today. Calling for a shift beyond traditional thinking toward innovation in today's competitive era, he placed special emphasis on the development of a digital economy, green development, technology-based entrepreneurship, and a startup culture.

Considering political stability as the foundation of economic prosperity, he clarified that only a stable government, clear policies, and long-term strategies can accelerate industrial development, investment expansion, and job creation. Reminding the elected parliament and government of their profound responsibility to achieve economic prosperity through good governance and to uplift the living standards of the people, he advised the government to move forward by taking the private sector along in this campaign.

He stated that to further strengthen the federal democratic republic, coordination between the federal, provincial, and local levels must be bolstered to accelerate the overall development process. Clarifying that the development of trade, industry, and economic activities is the core basis of prosperity, President Paudel said that both the state and the private sector share equal responsibility. He also urged everyone to work together to focus on building a stable, transparent, and accountable governance system.