Kathmandu. KATHMANDU: Nepal Apparel Industry Association has responded positively to the policy and programme unveiled by the government for the fiscal year 2083/84. The association has welcomed the programmes related to economic reforms, industrial promotion, digital transformation, export promotion and investment-friendly arrangements.

The association has expressed the belief that the government’s commitment to completing the process of business registration, construction permit and operation of industries within the stipulated time through the ‘Investment Express Policy’ will boost the confidence of the private sector. It is expected to solve the problem of complex processes and delays that the industry has been facing for a long time.

Similarly, the association has taken an important step for the development of entrepreneurship with the announcement of establishing a “National Enterprise Promotion Facility” targeting start-ups, micro, small and medium enterprises. It is believed that this will attract the new generation to the production-oriented sector.

Stating that the decision to expand the special industrial zone along with the “Green Garment Village” is a historic achievement, the association said that it will help to systematize the small and medium enterprises living in the country. In addition, foreign buyers and international customers are expected to have easy access to the industry.

According to the association, the policy to promote digital trade by declaring the IT sector as a “national strategic industry” and an integrated service system through the “Startup Nepal Portal” would help the new entrepreneurs. The announcement of legal recognition of international payment gateways is expected to facilitate exports, freelancing and digital transactions.

The Association has said that the program related to branding, certification and export promotion of domestic products will help make Nepali products competitive in the international market. Likewise, effective implementation of ‘Nepal Trade Integrated Strategy’ and ‘Trade Deficit Reduction Action Plan’ would further encourage export-oriented industries.

The announcement of 7 per cent economic growth rate, cashless economy, decade of employment promotion and new employment policy with the goal of upgrading Nepal to a middle-income country within the next decade are positive signs for the private sector.