30th January 2025, Kathmandu
Prime Minister KP Sharma Oli has called on Nepal’s business community to scale up production and increase exports, particularly to neighboring countries like India and China.
KP Oli’s Export Growth Targets
He made this call during the inauguration of the 8th International Chamber Expo, organized by the Nepal Chamber of Commerce at Bhirkutimandap, Kathmandu.
Focus on Large-Scale Production for Export Growth
Oli emphasized that businesses must focus on large-scale production to boost exports. He pointed out the importance of understanding market demand and targeting the right sales channels. “We need to know what products sell where and align our production accordingly,” he said. By doing so, Nepal can strengthen its position in global markets.
Infrastructure Development as a Catalyst for Growth
The Prime Minister also discussed the government’s commitment to infrastructure development, which he believes will accelerate Nepal’s economic growth. Acknowledging the negative impact of past political instability, Oli assured that the new government is taking proactive steps to rectify this.
He outlined the ongoing efforts to improve Nepal’s transportation infrastructure, highlighting the transformation of Tribhuvan International Airport into a boutique airport and the expansion of other airports. Moreover, the government is working to enhance river routes, which will facilitate better access to international markets. Oli believes these measures will drive industrial and business growth.
Nepal’s Goal: Achieve Middle-Income Status by 2026
Looking ahead, Prime Minister Oli set an ambitious goal for Nepal to reach middle-income status by 2026. He expressed confidence that, with the current infrastructure development projects, the country is on track to make significant economic progress. Oli urged the business community and all sectors to collaborate in achieving this target.
He also highlighted that current trade statistics often fail to account for exports, focusing instead on imports. Oli emphasized that the government is working to refine these figures, ensuring a more accurate reflection of the trade landscape.
Commitment to Technological Innovation for Economic Development
Prime Minister Oli reiterated the government’s commitment to using science and technology to increase productivity and foster social development. “The government is serious about economic growth, and we are dedicated to advancing the nation through innovation and technology,” he stated.
Optimism for the Future of Business in Nepal
Kamlesh Kumar Agarwal, President of the Nepal Chamber of Commerce, expressed optimism about the positive impact of recent government ordinances on the business sector. He believes these measures will create a more favorable environment for business growth.
The ongoing expo, which features 125 exhibition stalls from countries like Nepal, India, and Pakistan, continues until 3 February. This event provides businesses with a platform to showcase their products and ideas while engaging in meaningful discussions about Nepal’s economic future.
Conclusion
In conclusion, Prime Minister Oli’s address at the International Chamber Expo underscores his commitment to boosting exports and advancing Nepal’s economy. With continued infrastructure development and a focus on export growth, Nepal is poised to make significant strides in the global marketplace.
For more: KP Oli’s Export Growth Targets
