Kathmandu– Chairman of the Nepali Congress and former Prime Minister Sher Bahadur Deuba stated that the lack of a favorable environment for local and foreign investment has led to a slower-than-expected increase in national income.
Addressing the Nepal Startup and Small and Medium Enterprise Conference on Wednesday, organized at the Head Office in Sanepa, Chairman Deuba said that Nepal’s economy is becoming more business-oriented than production-based. He emphasized that developing entrepreneurship at the local level, alongside creating employment and self-reliance, is the need of the hour.
Deuba highlighted that even a small investment in entrepreneurship at the local level can create employment opportunities. He also noted that there has been a recent increase in the focus on startup businesses. The younger generation is finding creative ways to work with minimal investment, he added, stating that even small startup businesses can operate effectively and generate employment.
He further explained that the Nepali Congress has adopted a policy of promoting small and medium enterprises to increase Nepal’s local production, replace imports, and reduce the foreign trade deficit. To address the legal and procedural challenges faced by entrepreneurs, the government has introduced laws to facilitate business operations. Deuba stressed that for the prosperity of the nation, the promotion of information technology, political stability, and the constitutionally coordinated development of natural resources, human resources, and capital growth are essential.