KATHMANDU: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, has urged non-resident Nepalis to confidently invest in Nepal, citing improved political stability and a favorable investment environment.
Addressing the 12th Annual General Meeting of the Non-Resident Nepali Association (NRNA), Dhakal called on NRNs to invest in sectors such as hydropower, tourism, and information technology.
Referring to global crises such as the Covid-19 pandemic and conflicts around the world, he said that the homeland ultimately remains the primary destination and priority for people living abroad.
Dhakal acknowledged that some NRNs had faced difficulties in the past due to lack of reliable partners or investments in the wrong projects, but clarified that such cases were exceptions rather than the norm.
He also informed that FNCCI has already moved forward with a project in collaboration with the NRN Investment Company, the first company registered in Nepal specifically for NRN investment, emphasizing the importance of institutional investment.
According to Dhakal, the country now has a stable government that has provided the political stability sought by the private sector and NRN investors.
He further said that the government has formed a High-Level Economic Reform Commission at the initiative of FNCCI and is amending several laws to attract domestic and foreign direct investment.
Dhakal also noted that to counter the negative narrative that Nepal lacks capital and opportunities, business organizations including FNCCI, the Confederation of Nepalese Industries, the Nepal Chamber of Commerce, and NRNA have launched a Rs 10 billion initiative through the establishment of Nepal Development Public Limited (NDP).
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