Myagdi: Chairperson of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, stated that the government’s recently introduced ordinance has incentivized the private sector to boost investment.

Speaking at the closing ceremony of the 8th Myagdi Festival, Maghe Sankranti, Province-Level Agriculture, Tourism, Industrial, and Trade Fair in Beni on Tuesday, Dhakal emphasized that the ordinance, which amends several laws, has fostered a positive environment for investment and economic growth.

"The government has revised laws on governance, economic procedures, privatization, investment promotion, and land, creating an encouraging environment for private-sector investment," Dhakal said. He praised the government's swift action to incorporate private sector feedback into these legal changes, particularly in response to the economic downturn caused by the COVID-19 pandemic, the Russia-Ukraine war, and restrictive local laws.

Dhakal assured that FNCCI would facilitate investments in agriculture, tourism, and water resource projects initiated by Myagdi's industrialists and business community.

Chair of the Myagdi Chamber of Commerce and Industry, Subin Shrestha, highlighted the success of the festival, which attracted 100,000 visitors and generated a turnover of Rs 100 million. The event featured 230 stalls showcasing local and industrial products, promoting economic activities, tourism, and cultural preservation in the region.

The festival also served as a platform for identifying sports talents and marketing local products, further bolstering Myagdi's economic and cultural landscape.