Nepal, Oct. 4 -- These days, when I speak to fellow businesspeople, I hear the same question repeatedly: When will the investment climate improve? This routine complaint reflects the crisis Nepal's private sector has faced for several years. Banks have ample liquidity, yet investors remain reluctant to invest. There were hopes that the new government would improve the climate. Yet even six months after it took office, business confidence has not recovered.

We, the private sector, have repeatedly raised these concerns with the state and policymakers. We have called for concrete programmes and policy measures to restore business confidence and create an investment-friendly environment. These proposals are intended to get the wider economy ...