Nepal Chamber of Commerce President Kamlesh Kumar Agrawal has said that it is necessary to boost the morale of entrepreneurs as the economy is currently in a transitional phase.

Speaking at the all-party national dialogue on ‘Cooperation for Peace, Stability and Prosperity’ organized by the Federation of Nepalese Chambers of Commerce and Industry in Kathmandu on Wednesday, Chairman Agrawal said that cooperation for peace, stability and prosperity is a very important issue linked to the future of Nepal. 

‘There is a situation where peace, stability and prosperity cannot be imagined without the cooperation of all, including the government, major political parties, the private sector and the young generation,’ he said, ‘Nepal is not a country known only by its geographical borders on the world map, it is also a living example of tolerance, diversity and coexistence.’

He said that due to the inability to efficiently manage the economy affected by Covid for about 6 years, the economy has been in a sluggish state, and the recent protests by the Gen-G generation have resulted in human casualties, the martyrdom of many youths, and huge damage to industrial and commercial establishments and private properties. He said that this has had a negative impact on the overall business and industrial environment, as well as the morale of the private sector has been extremely low. 

‘In our country, which is rich in immense natural resources, due to the lack of investment-friendly economic policies, the country has not been able to achieve economic prosperity, let alone create an environment to create jobs for its youth (which constitutes more than 50 percent of the total population),’ he said. ‘We believe that the fact that more than 2,500 youths are forced to go abroad every day because they cannot find employment in their own country is the root cause of the dissatisfaction seen among the youth.’