Kathmandu, Nepal, January 17, 2020 - Finance Minister Yuvraj Khatiwada has said that inclusive investment is necessary for the development and prosperity of the country. In a program on 'mixed economy and gender friendly investment' organized by the Samriddhi Foundation on Monday, he suggested banks and financial institutions to increase investment in the domestic and medium enterprises.
"Technological support is needed to reduce the cost of production of such industries for the promotion of small and domestic industries, which are contributing to the economy, but institutional governance and financial stability appear to be the main challenges."
He also emphasized that small and medium enterprises operating in the country should create an environment that facilitates infrastructure development for productive and entrepreneurial citizenry. "The unemployment problem and agricultural production proper use of the means is a small industry are," he said, "The local raw materials based small industry is the country's economic spine of saying these industries, conservation and pravadrghanama government priority is taking."
Small, domestic and medium-sized industries suggested banks and financial institutions increase investment, he said, "Now Ainkabata large industries and cooperatives in the state of small business investment, industry sector for inclusive development and improvement in the domestic and medium-sized businesses in a simple and easy to get loans to financial institutions pay attention-missionary."
Stating that everyone should have equal access to the means of production for inclusive economic development, he said that without equal access to the distribution of land, capital and technology, economic development would not be possible in the country and federalism would be implemented for that.
Stating that the government focuses on financial inclusion through the federal structure and the inclusion of equitable development in the village, he said, "The economic growth must be inclusive and inclusive on the means of production to make economic growth inclusive." Accessibility should be ensured Apparently, the government has emphasized the equitable distribution of goods and resources.”
Minister Khatiwada said that there was a need for meaningful shared efforts for the inclusion of all classes and communities for inclusive development and that the three main pillars of the country's economy, government, private sector and cooperative sector, should work together for inclusive development.
Stating that women's participation in the financial sector, including the cooperation of Nepal, is encouraging, she said that women entrepreneurs are seeking attention to improve their products through the use of new technology.
He also asserted that the need to increase productivity to meet the needs of the people should not increase the price and improve long-term development, improve the quality of investment to create high returns and create employment opportunities and reduce the situation of going to foreign employment by creating self employment and wage employment.
At the inaugural ceremony, Katie Turner, senior director of worldwide programs under MEDA, discussed the evidence for the success of mixed economy and gender-friendly investment, emphasizing the promotion of small industries run by women.
In view of the increasing number of women in small industries and businesses in the past, addressing the need can also help in achieving sustainable development goals.
The program, which is sponsored by the Prosperity Foundation, with the cooperation of development practitioners and investors in the commercial sector, aims to reduce the gender imbalance seen as a barrier to development and prosperity and encourage it to move forward.
This article was initially published on Karoba National Economic Daily