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Nepal emerges as new global investment destination: FNCCI President Dhakal

B360
B360 April 28, 2024, 12:06 pm
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KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal has stated that Nepal holds significant potential for investment and has invited investors worldwide to consider investing in the country.

During the inaugural session of the Nepal Investment Summit, which commenced in Kathmandu today, FNCCI President Dhakal highlighted the investment potential across various sectors in Nepal, positioning the country as a new destination for investment.

Speaking on behalf of Nepal's private sector, a co-organiser of the Third Investment Summit, the FNCCI President expressed the view that Nepal, due to its strategic location between China and India, the world's largest economies, can capitalise on the market, tourism, and development opportunities of these two countries.

Dhakal informed the approximately 2,000 investors gathered from around the globe about the potential for investment in sectors such as tourism, energy, infrastructure, agriculture, and information technology (IT) in Nepal, emphasising that the country is making a favourable environment for investment.

Dhakal recalled the recently concluded long-term power trade agreement between the Government of Nepal and the Government of India, stating that it will unlock access to Nepal's vast energy potential. He also informed that the electricity trade agreement with another neighbouring country, Bangladesh, is in its final stages.

"To fully leverage Nepal's cultural heritage, natural beauty, and young, energetic workforce, investments can be made in tourism, agriculture, and IT infrastructure development. Another significant and potential area is skilled manpower, for which a high-level technical school can be established in Nepal,” said FNCCI President Dhakal.

Referring to the recent amendments made by the Government of Nepal to some laws considered to be barriers to investment, he mentioned that the Government of Nepal is committed to creating an investment-friendly environment in collaboration with FNCCI.

Dhakal said, "At the initiative of FNCCI, the bilateral investment agreement (BIA) framework has been prepared and approved by the Council of Ministers. This will also contribute to the security of foreign investment and the creation of an investment-friendly environment.”

He also mentioned that FNCCI is continuously taking initiatives to attract investment and create an investment-friendly environment in the country. Citing the 'Business Summits' organised in New Delhi, India, Beijing, China, and Dubai, UAE, some time ago under the leadership of FNCCI, Dhakal also stated that FNCCI is ready to provide necessary facilitation to any investors in Nepal.

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