From the Desk of President and Managing Director,
As all of us know, after going through protracted political conflict spanning over a period of one decade, a new ray of hope emerged after signing of the Peace Accord between the Seven Party Alliance and Maoists. Through this Peace Accord, perhaps Nepal has presented an unprecedented example of how insurgencies can be brought to the political mainstream. With this, as expected, economic optimism of the country has reached new heights once again and corporates are becoming active to identify new areas of growth.
Our Group, which has demonstrated during the difficult years of conflict, arguably, a very high degree of resilience and expansion, need to move at a much more faster pace in planning our next 10 years of growth path. While continuing to strengthen our market share in our existing product ranges and brands, a new focus needs to be brought in services and infrastructure sectors. As a consequence of the various multilateral agreements, we will see that the tariff barriers will gradually become less effective and we will have the rationale to remain competitive through inherent competitive strengths both of the country and the Group itself.
We need to plan projects with bigger domestic content and of markets which give us the economies of scale to compete with products coming in from both our neighboring countries. Major initiatives, therefore, in construction based product, hydropower and expanded financial services sector will take the centre stage for the coming decade in terms of Group’s future expansion strategies. The time has come for the Group to reorient our human resource base and support in many of the initiatives that we have planned.
We welcome our friends and partners, both within and outside Nepal, to work with us in opening up these new frontiers.
BINOD K. CHAUDHARY
President & Managing Director