KATHMANDU, APRIL 11

The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) has unveiled National Economic Transformation - 2030, a vision paper to boost the country's economy.

The vision paper, unveiled on the occasion of the 55th annual general meeting of FNCCI on Saturday, has targeted to boost the country's economy by at least $100 billion over the next decade. The federation has also aimed at generating employment for at least 2.2 million people in the next 10 years.

FNCCI President Shekhar Golchha said that if the vision paper is implemented effectively, the country could see additional investment worth $150 billion, with contribution of around $108 billion from the private sector, over the coming decade.

The FNCCI has presented 100 work plans to achieve the target, of which the federation aims to complete 40 within the next two years.

Similarly, the vision paper has also made a number of recommendations to the government so that the county can achieve double digits growth. Along with suggestions on post-pandemic recovery, the vision paper has also recommended how to commercialise various sectors such as agriculture, how to encourage youth entrepreneurship, women entrepreneurship, how to promote digital economy, among others. The FNCCI has prioritised small and medium entrepreneurs, job generations, start-ups, energy, infrastructure, foreign direct investment, among other sectors, in the vision paper.

Unveiling the 10-year vision paper, Prime Minister KP Oli requested the industrialists not to get distracted by the political issues of the country. 'Rumours regarding unstable political situation and possible government change are rife in the market. However, industrialists need not worry about the political issues, I'll handle that,' he said, 'You just focus on the road ahead.'

Citing that the exports have increased during the current government's tenure, PM Oli said, 'The country is progressing in industrial and trade sectors. Thus, to narrow the trade deficit the government has controlled imports.'

He further claimed that the government is working on solving labour issues and creating balance among entrepreneurs, employers and workers.

Amid this, the vision paper has suggested the government to amend some policies. Similarly, the vision paper has suggested the government to prioritise revival of tourism sector, promote digital payments, FDI, infrastructure development, implement the modern concept of agriculture, implement e-governance, bring export-oriented strategic plans, among others.

A version of this article appears in the print on April 12 2021, of The Himalayan Times.