'Ensure investment climate for innovation'

KATHMANDU, JANUARY 29 :The stakeholders have emphasized the need to adopt a one-door system by eliminating legal hurdles and creating a conducive environment for investment in small and medium-scale industries related to innovation.

They made this appeal to the government and political leaders during the "Innovation and SME Conference" organized by the Nepali Congress’ Department of Industry and Small and Medium-Scale Entrepreneurship Development.

At the conference, which began on Wednesday, FNCCI Chairman Chandra Dhakal commended the ordinances introduced by the government, calling them positive for stimulating economic activities. “I commend the recent ordinances and urge the government to implement them without delay,” he said.

Shova Gyawali, Chairwoman of the Nepal Women Entrepreneurs' Federation, stressed the importance of prioritizing the use of Nepali products. “Economic networking is crucial for running industries and enterprises, so banks and financial institutions must have trust in these industries,” she emphasized.

Siddanta Raj Pande, CEO of Business Oxygen, expressed that it is high time Nepal created a favourable environment to retain youth within the country by removing legal obstacles to investment and industrial operations.

Nirvan Chaudhary, Director at Chaudhari Group, however, stated that financial institutions had played a significant role in creating an investment-friendly atmosphere in the country.

Umesh Kumar Gupta, Chief of the Industrial Development Corporation, reminded that innovation is gaining momentum in Nepal. “We support anyone fully engaged in entrepreneurship,” he added.