SATV 10 April,Kathmandu: Under the theme "Respect for the Private Sector: The Foundation of Prosperity," the 59th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) along with Industry and Commerce Day 2081 concluded successfully in Kathmandu.

The event was graced by prominent national figures including Prime Minister K.P. Sharma Oli, Foreign Minister Dr. Arzu Rana Deuba, Home Minister Ramesh Lekhak, FNCCI President Chandra Prasad Dhakal, and several distinguished personalities from the economic and business sectors.

Organizers expressed optimism that the gathering served as a wake-up call for stakeholders, emphasizing the importance of boosting private sector confidence and investment to drive national prosperity. The discussions highlighted the growing enthusiasm of private investors in key sectors such as information technology, energy and agriculture, positioning these industries as pivotal to Nepal’s economic future.

Prime Minister Oli underscored the government's commitment to policy reforms and technological advancement. Emphasizing collaboration between the government and private sector, he noted that Nepal’s journey toward prosperity requires stable governance and joint effort. He also extended his congratulations to FNCCI on entering its 59th year and wished for its continued success.

Foreign Minister Dr. Arzu Rana Deuba highlighted the growing number of private investors across various sectors. She emphasized that with the country transitioning from a post-conflict period toward modernization and industrialization, both the government and private sector must move forward in unison. She also called on the civil service to adopt a more facilitative approach to resolving issues faced by entrepreneurs.

Addressing the assembly, FNCCI President Chandra Prasad Dhakal stated that while the country’s economy is not in a state of crisis as perceived by the public, it is not in an ideal condition either. He stressed that greater private sector participation is essential for accelerating economic progress. He also addressed the difficulties on economic growth due to low Foreign Direct investment of about 0.2% of the total GDP. “If Private sector are given mere importance then the double digit economic growth will not be an issue in near future.” He stated.

Participants of the event agreed that Nepal stands to benefit from shifts in the global economy and current taxation in tariffs from economically greater nations, provided policies are crafted with private sector leadership and effectively implemented. Business leaders advocated for a move toward self-reliance and urged the government to play a more collaborative and coordinating role in that effort.