Kathmandu: Stakeholders have emphasized the need for a streamlined one-door system and the removal of legal barriers to foster investment in small and mid-scale industries focused on innovation.

Speaking at the Innovation and SME Conference organized by the Nepali Congress' Department of Industry and Small and Mid-Scale Entrepreneurship Development, industry leaders urged the government and political leadership to create a more conducive investment environment.

Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chairman Chandra Dhakal welcomed recent ordinances aimed at boosting economic activities, urging their swift implementation. Similarly, Nepal Women Entrepreneurs' Federation Chairwoman Shova Gyawali stressed the importance of prioritizing Nepali products and called on banks and financial institutions to place greater trust in domestic industries.

Business Oxygen CEO Siddanta Raj Pande highlighted the need to remove legal hurdles to retain Nepal’s youth within the country by fostering a supportive industrial environment. Meanwhile, Chaudhari Group Director Nirvan Chaudhary credited financial institutions for their role in facilitating investment.

Industrial Development Corporation Chief Umesh Kumar Gupta noted that innovation in Nepal was accelerating and reaffirmed support for aspiring entrepreneurs until they become fully engaged in business.

Deuba Stresses Local Entrepreneurship for Job Creation and Self-Sufficiency

Nepali Congress (NC) President and former Prime Minister Sher Bahadur Deuba has emphasized the need to explore entrepreneurship opportunities at the local level to generate employment and achieve self-sufficiency.

Speaking at the inauguration Deuba highlighted that fostering local businesses would contribute significantly to job creation. He noted the rising interest in startups among youth and stressed the necessity of concessional loans, training, skill development, and special grants to support budding entrepreneurs. Additionally, he advised patience and resilience for the sustainability of new businesses.

Deuba underscored the importance of developing key economic sectors such as agriculture, forestry, and tourism, stating that recent legal revisions aimed at removing investment barriers would further promote these industries. He also urged the government to prioritize IT sector development, emphasizing the role of political stability, human resource development, and efficient mobilization of capital and technology.

The former Prime Minister expressed confidence that the conference's conclusions would guide both the party’s action plans and government policies. The event aims to compile a report and book based on its discussions, build a network of youth entrepreneurs, and promote local products through policy reforms and exhibitions.

The two-day conference, held at the NC central office in Sanepa, Lalitpur, primarily focuses on encouraging and supporting youth and women in establishing their own businesses.