Myagdi, 22 January: President of the Federation of Nepalese Chambers of Commerce and Industry, Chandra Prasad Dhakal, has said that the ordinance recently issued by the government has encouraged the private sector to invest. Addressing the closing ceremony of the 8th Myagdi Festival, Maghe Sankranti, and provincial-level agriculture, tourism, industrial, and trade fair in Beni on Tuesday, Chairman Dhakal said that the private sector has been enthusiastic about the changes in the law made through the ordinance.
Chairman Dhakal mentioned that the ordinances made to amend some Nepal Acts related to promoting good governance and public service delivery, economic procedures and fiscal responsibility, privatization and economic and business environment improvement, investment promotion, and land will help in promoting investment. “The changes in the law made by the government have encouraged the private sector to invest,” he said. “The government has accepted the positive suggestions of the private sector and changed the law in a short time, sending a message that there is an environment for investment and security.”
Chairman Dhakal stated that the government has issued the ordinance as per the suggestions of the private sector to revive the economic sector, which has been in contraction due to the COVID-19 pandemic, the war between Russia and Ukraine, and Nepal’s existing laws and regulations. He pledged to facilitate investment in the agriculture, tourism, and water resource-related plans prepared by Myagdi industrialists and businessmen through the Federation of Nepalese Chambers of Commerce and Industry.
Myagdi Chamber of Commerce and Industry President Subin Shrestha said that the festival was successful in stimulating economic activities, identifying potential, marketing local products, promoting tourism, identifying sports talent, and preserving art and culture.
The festival, which began on December 11, had 230 stalls of local and industrial products. Chairman Shrestha said that the festival generated a turnover of Rs 100 million and was viewed by 100,000 visitors.
Myagdi Festival generates turnover of Rs. 100 million
It is reported that a turnover of Rs 100 million was recorded at the 8th Myagdi Festival and Provincial-level Agriculture, Tourism, Industrial and Trade Fair, 2081, organized in Beni.
A total of 230 exhibition halls were set up at the festival organized by the Myagdi Chamber of Commerce and Industry on the occasion of Maghe Sankranti from last February 28 to this February 28. Suman Shrestha, Treasurer of the Myagdi Chamber of Commerce and Industry, informed that 100,000 people visited the festival and a turnover of Rs 100 million was generated.
“We have succeeded in doing business and attracting visitors according to our target,” he said, “We have earned about Rs. 5 million from ticket sales alone.” Local, national, international industrial, agricultural and livestock, information technology, clothing, food, and rental products were exhibited at the festival. Free exhibitions were arranged at 30 stalls of local products. Stalls of Nepali paper, bean lentils, garlic, Dhaka cloth, and traditional food dishes were also set up.
The festival featured men’s and women’s volleyball, basketball, folk duet songs, ancestral dance, ratayuli songs, bhajans, Myagdi Idol solo folk dance competition, and performances of folk songs from various ethnic groups.
Myagdi Chamber of Commerce and Industry President Subin Shrestha said that the festival has helped in attracting investment and revitalizing economic activities by highlighting the overall potential of Myagdi. He said that the festival is linked to attracting investment in Myagdi’s tourism, agriculture, hydropower, minerals, forest products industries, cultural preservation, talent identification, promotion, and sports.
Chairman Shrestha said that the festival was organized with the aim of reflecting the importance of Beni, a major trading center on the ancient Silk Road and the Kaligandaki Corridor, known as the ‘Salt Trade Route’, between China and India, and promoting domestic tourism.
Two hundred years ago, people from as far away as China and India used to come to Beni to shop during the Maghe Sankranti fair. In the same vein, the Newar community from the Kathmandu Valley migrated to Beni and settled here.
