FNCCI president urges Spanish businesspeople to invest in Nepal

KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal urged Spanish businesspeople to strengthen economic ties and expand investment cooperation between Nepal and Spain.

Dhakal made the appeal at Nepal–Spain Business and Investment Promotion Evening in Madrid on Wednesday, an event organised jointly by the Embassy of Nepal in Madrid and the Spanish Chamber of Commerce.

Addressing members of Spanish Chamber of Commerce, business leaders, Nepali community and diplomatic representatives, FNCCI President Dhakal said there was strong potential for cooperation in tourism, energy, agriculture, information technology and infrastructure.

He described tourism as the backbone of Nepal’s economy, citing the religious, cultural and natural attractions of Mt Everest and Lumbini, the birthplace of Lord Buddha. He added that investment in high-quality services and infrastructure could attract more visitors worldwide.

Dhakal mentioned that the government had created an investment-friendly environment by establishing 'one-stop service centre' for investment and company registration, and by prioritising energy, agriculture, information technology, construction and digital innovation in the national budget, offering tax exemptions and simplified regulations.

“Our objective is to make doing business in Nepal easy, fast and transparent. FNCCI has continuously lobbied for policy reforms, resulting in more than 30 business-related laws being amended to create an investment-friendly environment,” Dhakal said.

He added that Nepal had more than 40,000 MW of untapped hydropower capacity and new transmission infrastructure was under construction to boost regional power trade, making it an opportune time for Spanish companies to invest in clean energy.

Highlighting Spain’s success in tourism, Dhakal invited the Spanish business community to visit Nepal, stating that Nepali entrepreneurs were eager to learn from Spanish experience and technology. He pledged that FNCCI would assist investors in identifying relevant sectors, meeting local partners and navigating regulatory processes.

On the role of the Nepali diaspora in Spain, Dhakal urged them to act as economic envoys by promoting Nepali products, attracting investment and developing tourism.