Kathmandu. President Ram Chandra Poudel has stressed the need for collaboration between the government and private sector, saying the role of private sector was significant for the economic development of the country.

Speaking at a programme organized by the Chamber in the capital today, he said that the government-private sector partnership should be the main basis for economic prosperity.

Saying that economic prosperity would facilitate the consolidation of the federal democratic republic, the President called for all to move ahead unitedly for the development and prosperity desired by the people.

President Poudel said, “The way has been paved for the parliament and the government established through the successful election to get the country out of a complicated situation to move ahead on the path of economic prosperity through good governance.” The incumbent government, which has the heavy responsibility of nation building including hassle-free service delivery, implementation of economic development plans aimed at improving people’s living standards, is expected to advance economic development in partnership with the private sector. ”

Stating that political stability was the basis for economic prosperity, the Finance Minister pointed out the need of the hour to ensure industrial development, expansion of investment and employment generation only through a clear policy and a sustainable strategy. “Today’s youths are the future of the country and it would be easier to lead the country towards prosperity if they are created employment opportunities in the country,” he said. He also stressed on the need of coordination among the federal, state and local levels.

“In today’s competitive era, we need innovation, innovation and bold decisions, going beyond conventional thinking, digital economy, green development, technology-based entrepreneurship and developing a startup culture,”

said President Poudel.

He said that the private sector should be taken as a partner in nation building and not just as a tax paying agency.

The President appreciated the role played by the NCC in economic prosperity, promotion of industry and business, investment-friendly environment and entrepreneurship promotion.

On the occasion, NCC’s senior vice-president Deepak Kumar Malhotra stressed on encouraging technology-based enterprises to encourage youths to engage in innovation. Saying it was necessary to create favourable environment for attracting foreign investment, he expressed the belief that the country would pursue industrial development once political stability has been established.