Government awards CIP honours to 30 firms and organisations

KATHMANDU: The government has conferred 'Commercially Important Person (CIP)' honours on 30 business entities and representative institutions.

Minister for Industry, Commerce and Supplies Damodar Bhandari presented the awards at a programme organised jointly by the Ministry of Industry, Commerce and Supplies (MoICS) and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) in Kathmandu on Wednesday.

Of the 30 honourees, 21 are private firms and companies, while nine are trade and commodity associations recognised for their export performance.

Representative institutions awarded honorary CIP status include the FNCCI, Nepal Chamber of Commerce (NCC) and Confederation of Nepalese Industries (CNI), whose presidents—Chandra Prasad Dhakal, Kamlesh Kumar Agrawal and Rajesh Kumar Agrawal respectively—were honoured for promoting export trade and commercial growth.

The Federation of Handicraft Associations of Nepal (FHAN) and the Federation of Export Entrepreneurs Nepal also received honorary CIP awards. Commodity associations recognised include the Nepal Chhurpi Traders’ Association (Jhapa), Nepal Carpet Manufacturers and Exporters’ Association, Garment Association–Nepal (GAN) and Nepal Wool Felt Producers’ and Exporters’ Association, each having achieved exports of Rs 5 billion or more in fiscal years 2022/23 and 2023/24.

Individual businesspersons from the top five export categories were also honoured. Third Eye International led in woollen carpets; Nepal Fashion in ready-made garments; National Exporters in woollen felt goods; Manaram Himalayan Handicraft in chhurpi; and Trico Industries in pashmina products.

Dabur Nepal, Aarti Strips and Reliance Spinning Mills received CIP honours for exports to India. Chhomen Traders, Finjo Sonam Enterprises and Ashtamangal Kathmandu were recognised for exports to China. Giftsland Enterprises was named top exporter of handicrafts reflecting Nepal’s art and culture.

In the agricultural sector, Nepal Everest Cardamom Production and Processing (Jhapa) led exports, while AB Herbal Traders & Suppliers (Darchula) topped the herbal goods category. Janakpur Refineries was the leading woman-owned exporter. Shangri-La Carpet & Handicraft, Everest Fashion and Triveni Spinning Mills each exported in excess of Rs 1 billion over the last two fiscal years. Mindful Crafts Kathmandu was the sole startup sector recipient.

IME earned the CIP honour for remittance-based foreign currency inflows via the banking system. Everest Hospitality and Hotel was recognised as the leading foreign-currency earner in tourism.

Speaking at the event, Minister Bhandari said co-operation with the private sector will be deepened to foster national prosperity. “Economic development and prosperity are not possible until the morale of private sector is high,” he said, adding that Nepal’s graduation from LDC status in 2026 would require joint strategy-formulation.

FNCCI President Chandra Prasad Dhakal said Nepal’s exports could reach about Rs 1 trillion annually and foreign investment rise from 0.2 % of GDP to 10 % within several years, given the country’s export potential.

The FNCCI President thanked the government for amending investment-related laws, drafting a bilateral investment promotion agreement and incorporating FNCCI’s economic reform commission proposals into the budget and monetary policy. He also urged the establishment of a biennial CIP Day and a formal order of precedence for the private sector.