He says that foreign investment should only be brought in areas where Nepalis cannot invest.
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Anjan Shrestha, senior vice-president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has said that the private sector has lost its 'self-confidence' after the 'Genji' protest.
He said this in the Samriddhi Foundation's dialogue series 'Building Together: How Does the Private Sector View Nepal's Next Chapter?'. 'During various movements, the private sector was affected and damaged, but it was limited to that place,' Shrestha said, 'But during the Genji protests, people's homes were vandalized.'
He said that the private sector has lost confidence after the attacks on homes that are considered the safest. 'The Genji protests have been going on for two days, and it seems that nothing has happened on the third and fourth days,' he said. 'Despite the damage during the Genji protests, Min Bahadur Gurung of Bhatbhateni has said, "I will rise from the ashes." He believes that there is no escape from this, we have to move forward from here.'
He mentioned that even though government structures were damaged during the protests, it took time for the government system to become operational. But he said that the private sector has risen and moved forward in two to three days. He emphasized that the approach to viewing, understanding and evaluating the private sector should be changed.
He said that employment has not been created due to weak economic mobility. He said that even though the country has been oriented towards an open economy since 2048, economic growth has not been achieved accordingly. He also mentioned that the foundation of an open economy has led the country to its current state.
He commented that the government is not concerned about the impact on the economy of providing more subsidies and social security allowances than necessary. ‘The government does not run industries and factories, the private sector does,’ he said, ‘The government should only regulate and facilitate.’
He believes that every bureaucracy should have institutional memory. ‘When there is a meeting regarding the Nepal-India border, Indian employees even know the decisions of previous meetings,’ he said, ‘but Nepalese employees do not know, because newcomers are not aware of the past.’
He pointed out that a culture should be developed of saying right is right and wrong is wrong. "Even if someone does something wrong within the private sector, it is ignored now," he said. "Now we have to learn to say right from wrong and wrong from right."
He said that foreign investment should be brought in only in areas where Nepalis cannot invest. He said that foreign investment should not be brought in in any area, saying that technology and capital are lacking. He commented that technology and investment should be brought in while protecting the industries in the country.
