Rapid economic development possible through private sector: Dhakal

Udayapur. Chandra Prasad Dhakal, senior vice-president of the Federation of Nepalese Chambers of Commerce and Industry, said that it was possible to develop a lot in a short period of time through the private sector if the state facilitated it.

Speaking at the inauguration function of the newly constructed building of Udayapur Chamber of Commerce and Industry, Dhakal said the development of the country was possible if all the three levels of government created an investment-friendly environment. “If the state creates an investment climate and only facilitates the private sector to invest, it will not take long to develop,” Dhakal said.

He said that if the state could create an investment environment, it would be able to reap substantial benefits from job creation, tax and revenue collection and construction of other physical infrastructures. Stating that the traditional view of the private sector from the point of view of the state and its agencies has created problems, he said that the thinking that the private sector is only commercial should be changed.

He said that the three-tier government should facilitate businesses and entrepreneurs to create employment in the country and collect maximum revenue. As localities are the first beneficiaries of employment and revenue, the local level should take special initiative to create an investment-friendly environment, said Dhakal. “Any good business that creates jobs in the country and helps raise revenue should be facilitated by governments at all levels,” he said, ‘The role of local governments is also important in terms of its direct and first beneficiaries.’

Dhakal, who is also the chairman of Global IME Bank, expressed his commitment to open a branch of Global IME Bank in Katari, Udayapur as per the demand of the locals.