Kathmandu: Confederation of Nepalese Industries (CNI) has presented a strategic plan to Prime Minister KP Sharma Oli, outlining a vision to double Nepal’s economic growth rate and expand the economy to US$ 100 billion within the next decade.
The business body emphasized that achieving this ambitious target will require prioritizing legal reforms and focusing on eight key economic sectors.
CNI’s newly elected president shared details of the “Make in Nepal – Swadeshi Campaign,” an initiative launched in collaboration with the government to promote import substitution through domestic production. The industrial body’s preliminary studies suggest that concentrating on these eight core sectors could help realize the dual goals of economic expansion and double-digit growth.
CNI expressed confidence that with the government’s commitment to policy and legal reforms, these economic targets remain achievable.
The business delegation also met with Speaker Devraj Ghimire, urging legislative measures to boost private sector investment.
Separate discussions were held with multiple ministers including Industry, Commerce and Supplies Minister Damodar Bhandari, Physical Infrastructure and Transport Minister Devendra Dahal, Energy Minister Dipak Khadka, and Public Accounts Committee Chairman Rishikesh Pokharel.
These meetings covered critical issues such as the current economic situation, necessary policy reforms, and effective budget implementation strategies.
During the meeting with CNI representatives, Prime Minister Oli stressed the urgent need to transform Nepal into a production hub through industrialization. He emphasized shifting focus from importing goods for profit to increasing domestic production for export promotion.
The Prime Minister reiterated the government’s efforts to create a favourable environment for the private sector through legal and policy reforms while expressing his personal desire to see everyday household items manufactured locally.
Oli asserted that only through increased production and consumption of domestic goods can Nepal successfully achieve import substitution and strengthen its economic foundation.
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