NCC pledges full support for Sudurpashchim investment summit

KATHMANDU: Nepal Chamber of Commerce (NCC) has pledged full support for the Sudurpashchim Province Investment and Development Summit, which will be held on November 17 and 18. The NCC is preparing to assist with investment facilitation, publicity and other matters.

At a meeting on Sunday at Chamber Bhawan in Jamal, Kathmandu, NCC President Kamlesh Kumar Agrawal met Sudurpashchim Province Chief Minister Kamal Bahadur Shah, provincial ministers and members of the Provincial Planning Commission to discuss the summit. Agrawal committed to providing full support, emphasising that selecting projects which offer a return and implementing policy-level reforms are essential.

“For the economic development of Sudurpashchim, the province has immense potential in natural resources. If there are policy reforms, the private sector will come to invest on its own. It is necessary to create policies that ensure a return on investment in the province, as water and investment are of the same nature; they flow where there is a downward slope,” Agrawal said.

The summit will prioritise industries, mining products, tourism, information technology, energy, agriculture, herbs, physical infrastructure, education and health sectors. Sudurpashchim Province has high potential in hydropower, agricultural production, tourism and cross-border trade. Agrawal stated that successful operation of hydropower projects such as Pancheshwar, Karnali and West Seti would make a significant contribution to the national economy.

Since the province is dominated by agriculture, the NCC said it can attract investment in processing and export-oriented ventures based on paddy, maize, wheat, fruits, spices and herbs.

The NCC also suggested that the summit should prioritise tax relief, land management, a one-door system and a public–private partnership (PPP)model to create a policy- and investment-friendly environment. Environmentally friendly industries, organic farming and renewable energy projects would provide long-term benefits, Agrawal added.

Chief Minister Shah said the cooperation of the NCC is vital for the province’s development and welcomed the proposal for collaboration. He said the provincial government would seek external investment only after first creating an environment for internal investment in Sudurpashchim. The Chief Minister stressed that the goal is to create employment and deliver Sudurpashchim’s products to neighbouring markets.

Immediate past president of NCC, Rajendra Malla, emphasised the need for policy-level arrangements to utilise barren land in the province. He urged the provincial government to compile a register of skilled young people who have returned from abroad to ensure they can contribute locally.

NCC Senior Vice President Deepak Kumar Malhotra said hydropower projects should be given high priority in the province. He added that locations such as Khaptad National Park, the Api Saipal mountain range, Baijnath Dham and Shuklaphanta National Park offer investment opportunities in eco-tourism, religious tourism and adventure tourism.