March 22: Minister of Industry, Commerce, and Supplies, Damodar Bhandari pledged to resolve the myriad challenges faced by industrialists and businesses to boost the economy in the country.  

Speaking at the Eighth Newbiz Business Conclave and Awards-2024 held in Kathmandu, Minister Bhandari emphasized the urgent need to tackle existing obstacles and instill hope within the business community.

Acknowledging the prevailing pessimism and the concerning exodus of youths from the country, Minister Bhandari underscored the government's sensitivity towards these issues. He reiterated the government's determination to collaborate closely with the private sector to foster a conducive environment for economic growth and stability.

Highlighting concrete steps towards revitalizing the economy, Minister Bhandari said that the government would amend approximately 10 laws related to investment.

Bhandari added that the government would accord focus on importance of job creation.  “The government is set to prioritize small and medium-scale agriculture and mining initiatives to breathe new life into dormant industries,” he added.

With a strategic focus on key sectors such as tourism, energy, and small to medium-scale industries, Minister Bhandari informed that government would unveil policies to drive growth and attract investments in the next budget.

Furthermore, Minister Bhandari pledged to incorporate feedback and suggestions from the private sector into the government's agenda for the forthcoming investment summit.