Banking News – Finance Minister Dr. Swarnim Wagle has emphasized the need for a strong partnership between the government and the private sector to drive Nepal’s economic transformation, saying that the success of the private sector is fundamental to the country’s overall economic progress.

Speaking at a discussion with representatives of 20 major multinational taxpayer companies in Nepal, Minister Wagle said economic development cannot be achieved through the efforts of a single ministry or policy alone. He stressed the need for a “whole-of-the-nation” approach, involving coordinated efforts across the government and private sector.

Wagle said the government views the private sector not with suspicion but as an integral partner in national development. He added that the government’s priority under the current fiscal year’s budget is not limited to increasing tax collection but also to strengthening the cycle of production, investment, profit and reinvestment.

According to the minister, profits generated by businesses encourage further investment, which creates employment and income and ultimately contributes to higher government revenue. He described the relationship between the government and private sector as complementary, with the success of one supporting the progress of the other.

Minister Wagle also assured businesses that the government would take full responsibility for protecting legally made investments and legitimately earned profits, emphasizing the importance of creating a predictable and investment-friendly environment for sustainable economic growth.