सिंहदरबार संवाददाता
Kathmandu. “I would like to warmly welcome everyone to this program organized with this topic as the main basis. This federation, which is an umbrella organization of the private sector, represents about 600,000 industrialists and businessmen.
Most of which are cottage, small and medium industries. This sector is also called the backbone of the economy. Due to the lack of demand in the country for a long time, many small and medium enterprises have closed down, while the running industries are also in trouble. The lack of demand for loans is an example of this. Meanwhile, Nepal is set to be upgraded from the list of least developed countries to developing countries by 2026.
When domestic demand declines, it is our need to find foreign markets. After the upgrade, on the one hand, there will be far-reaching benefits such as increasing Nepal’s reputation in the world and increasing foreign investment, while on the other hand, there is a possibility of the closure of customs-free market access for exports to European countries and the facilities under development assistance received by the least developed countries. This also poses a risk of losing foreign markets.
When the services and facilities that Nepal has been receiving as a least developed country are closed, it seems that the Nepalese market cannot compete in the international market. This program has been organized in the presence of stakeholders to discuss the measures to be adopted to resolve this. The Planning Commission has formulated a strategy to benefit from the upgrade with less loss. But the basis of the strategy is weak. It has not been able to include the risks due to the Rules of Origin. The strategy has made studies that will affect the market growth in the coming days by maintaining the current situation.
Separate discussions are required on many issues of the said strategy. However, we are not in a position to go back now. We have no choice but to increase the market by increasing innovation in business. The information technology sector will have to be expanded.
Currently, the international competition of Nepali goods is increasing, this is a challenge, in this situation, industrialists should be able to produce quality goods as per the market demand. The main responsibility of the nation is to provide the necessary services and facilities for this.
In the context of LDC Graduation, it has become indispensable to develop small and medium enterprises and startups with new innovative thinking to compete in the world. In addition, it has become necessary to move the operating industries forward with new innovative thinking. If businesses can be expanded in this way, new opportunities will be created in the development of the economy. We believe that innovation will reduce costs and expand businesses, as well as become an important means for entrepreneurs to become self-reliant.
In this federation, a “Startup and Innovation Forum” has been formed to help in the development and promotion of Innovative Startups. Through this forum, discussions and collaborations have been held with the Government of Nepal, donor agencies and stakeholders on issues ranging from policy arrangements for Innovative Startups and MSMEs, procedural ease to capacity building through various trainings, symposia, interactions, seminars, access to investment, and market expansion. The Micro, Small and Medium Enterprises Committee is working to expand this sector, while the Investment and International Relations Committee is working to expand investment. Similarly, the Export Promotion Committee has tried to find foreign markets.
There is a Women Entrepreneurs Committee for promoting the businesses of women entrepreneurs. These committees and forums have been the main coordinators of today’s program. It has been many years since the Federation established iHub with the support of the US Embassy. The Embassy and iHub have provided support to conduct today’s program. Here we will discuss the policy and practical difficulties.
Currently, most of the youth and students are migrating abroad, in this situation, it is necessary to make the industry and business competitive and create more jobs. Currently, there is a provision to register businesses in various bodies, which has created a complicated situation. For its convenience, local bodies should be empowered to register at one place.
Also, although the taxes levied at the central, provincial and local levels are different, arrangements should be made to pay them at one place. For the development of women’s entrepreneurship, including startups, MSMEs, various policy issues, capacity building training, access to credit, use of technology, skilled manpower, quality of goods and market expansion, special programs should be implemented as packages. A major area with potential for development in Nepal is the tourism sector, for this, ease of movement of tourists should be brought.
To increase economic activities within the country, the tax system should be made simple and business-friendly, tax procedures should be made transparent and tax rates should be provided at low rates, and the import-export process should be simplified. Efforts should be made at all levels to prevent unauthorized imports. It is necessary to ensure policy clarity, stability, and speedy and effective implementation. I would like to draw the attention of the Honorable Minister to all these matters. Youth should be motivated and encouraged to work by improving governance.
(Thoughts expressed by Federation President Dhakal in the ‘Preparing Businesses for LDC Graduation through Innovation’ program)
प्रतिक्रिया दिनुहोस्