Finance Minister Dr. Swarnim Wagle: Let’s Restore Nepal’s Lost Industrial Opportunities

Finance Minister Dr. Swarnim Wagle emphasized that the private sector must lead the economy’s development by expanding exports through domestic production. He clarified the government’s commitment to collaborating with the private sector to invigorate the national economy through entrepreneurship and employment while securing investments. Dr. Wagle also noted that the economic reform programs announced in the budget, increased capital expenditure, and necessary legal amendments to create an investment-friendly environment are being rapidly advanced.

Kathmandu, 28 July – During a discussion with entrepreneurs at Singha Durbar on Tuesday, Finance Minister Wagle stressed that the industrial sector should lead the transformation from an import-dependent consumer economy to one focused on import substitution through domestic production and export expansion. He highlighted the government’s focus on restoring long-lost industrial opportunities in partnership with the private sector.

He expressed the government’s commitment to ensuring that investments made by the private sector remain secure, yield appropriate returns, and foster reinvestment. He underscored the government’s clear stance that private sector success is crucial for the nation’s economic success, with high priority given to protecting entrepreneurs’ profits and assets.

The minister also pointed out that the economic reform initiatives declared in this fiscal year’s budget are being implemented at an accelerated pace. Efforts to increase the speed of capital expenditure, expedite project implementation, improve capital markets and the financial sector, and strengthen an investment-friendly environment are all progressing simultaneously and rapidly.