KATHMANDU: The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) President, Chandra Dhakal, has urged global business leaders to explore investment opportunities in Nepal, emphasizing the country’s potential for economic growth.
Speaking at the World Governments Summit-2024 in Dubai, UAE, President Dhakal encouraged world businesspersons to focus on investing in Nepal’s hydro power, tourism, agriculture, and production sectors.
In his address, President Dhakal highlighted Nepal’s strategic location between the two largest markets in the world, India and China.
He emphasized that Nepal has duty-free market access to India, China, and other developed countries, allowing global investors to manufacture in Nepal and export to the world.
President Dhakal informed the audience about the ongoing efforts by the Nepali government to improve the business environment through reforms aimed at simplifying procedures, reducing regulatory burdens, and enhancing transparency.
He mentioned the upcoming Investment Summit 2024 scheduled for April 28 and 29, where the private sector has proposed amendments to 12 laws and regulations.
Additionally, President Dhakal revealed that the Nepal government has finalized the framework agreement for bilateral investment agreements with potential partner countries.
He stressed the government’s focus on infrastructure development to improve connectivity, reduce transportation costs, and promote economic growth.
President Dhakal underscored Nepal’s untapped potential in sectors like hydropower, tourism, agriculture, and manufacturing.
He highlighted recent relaxations in provisions related to tourism infrastructure investments, such as hotels, resorts, theme parks, and cable cars.
Sharing his own ventures, President Dhakal mentioned developing three cable cars in different provinces and identified the sector as a rewarding investment opportunity for foreign investors.
He invited global business leaders to invest in these sectors, emphasizing their role in driving economic growth and creating employment opportunities.
President Dhakal committed to fostering a business-friendly environment in Nepal and noted the country’s pursuit of a liberal trade policy to promote exports and attract foreign investments.
He expressed confidence that the Middle East would be excited to consume organic agro products from the Himalayan region.
President Dhakal sought technical support from the UAE government and business community to enhance production and exports.
He also mentioned efforts to improve trade relations with other countries and create a level playing field for businesses.
Highlighting FNCCI’s engagement, President Dhakal thanked the government of the UAE and Dubai Chambers for their partnership in organizing business summits in India, China, and the UAE.
He announced FNCCI’s Annual General Meeting on April 10, inviting world businesspersons to participate.
FNCCI, with around 600,000 direct and indirect members, is the apex body of Nepali private sectors.
The World Governments Summit, held under the theme ‘Shaping Future Governments,’ took place from February 12-14.
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