Lalitpur, January 23

Experts of small and medium-sized enterprises (SMEs) have pointed out that Nepali products, despite having tremendous potential, have weak international presence due to lack of proper branding and packaging.

The lack of investment in proper branding and marketing has made it difficult for the local products to cause a stir in the international market, said the experts participating at the SMEs Summit organised by Federation of Nepalese Chambers of Commerce and Industry here today.

Ensuring the quality of the products is another important aspect and for this, it was pointed out that a commitment is needed within the SMEs ecosystem in terms of packaging, branding, quality and marketing.

Meanwhile, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel expressed his commitment to quickly pass and implement the procedures related to start-ups and project loans.

Minister Paudel informed that the government is willing to solve the problems of procedural hurdles faced by small entrepreneurs. He assured that the government is ready to address issues such as access to finance, market promotion, skilled manpower, procedural difficulties, interest rates, among others, which are seen as the main challenges for SMEs.

FNCCI President Shekhar Golchha said that expanding investment is currently beyond imagination as high interest rates are causing problems in sustaining the enterprises.

Requesting loans based on projects to entrepreneurs, Golchha said, 'If we can supply quality products according to the market demand using modern technology in the SMEs sector, which employs around 1.7 million people, there is a possibility of making great economic progress.'

Joni Simpson, office-incharge of International Labour Organisation country office for Nepal; Elke Wisch, UNICEF representative for Nepal; and Babacar Faye, International Finance Corporation's resident representative for Nepal, emphasised on the rapid development of SMEs, an important part of the Nepali economy, and said that it will also help in the goal of economic upgradation of Nepal by 2026.

Chandra Prasad Dhakal, the senior vice-president of FNC- CI, assured that the federation is preparing to put the SME service centre into operation to help the SMEs and it will be expanded to all provincial chapters.

In the closing session of the conference, the Chairperson of the Domestic and Small Industries Committee of the FNCCI, DB Basnet and Rita Sinha, chairperson of Women Entrepreneurs Development Committee, promised to continue initiatives and advocacy to connect the products of SMEs with large industries operating within the country.

The summit concluded by issuing a 10-point manifesto which aims at supporting the development, expansion and promotion of SMEs in Nepal.

A version of this article appears in the print on January 24, 2023, of The Himalayan Times.