'Media plays crucial role in country's economic development'

KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal said on Wednesday that the media plays a crucial role in the country's economic development, policy reform and investment promotion.

Speaking at a programme in Kathmandu to honour journalists, Dhakal praised the media for bringing FNCCI’s policy agendas and private sector concerns into the national debate. He said journalists had acted as a bridge between the government, private sector and citizens and called journalism ‘a guiding force in policy‑making’.

The event, held towards the end of Dhakal’s tenure, aimed to strengthen ties between the private sector and the communication sector. Dhakal said FNCCI have always welcomed constructive suggestions from the media.

Acknowledging setbacks from the post‑Covid contraction and other challenges, Dhakal said FNCCI continued policy advocacy, promoted investment and expanded international relations. “The economy was affected by various reasons; however, FNCCI worked during this period to resolve the economic crisis, create an investment‑friendly environment, strengthen public‑private partnerships, create jobs, and boost the morale of private sector,” he said.

Dhakal said FNCCI sought consensus on economic development through legal reforms, the formation of a high‑level economic reform commission and national debate. He added that over the past three years the federation had shifted from making demands to actively participating in policy making.

As a result, the High‑level Economic Reforms Recommendation Commission was formed and more than 30 laws were amended based on its recommendations. Dhakal said the new government had approved the Private Sector Protection and Promotion (PSPP) strategy following FNCCI’s suggestion, which would safeguard investment and business.

On investment promotion, Dhakal said FNCCI had drafted bilateral investment agreements and advanced talks with several countries. He noted investment summits and dialogue programmes had been held in India, China, the United Arab Emirates, Qatar and the United Kingdom to position Nepal as an investment destination.

Under FNCCI’s initiative, Nepal Development Public Limited was established with Rs 10 billion to promote domestic investment and introduce a new model for infrastructure and productive‑sector investment.

The programme also presented institutional honours to media bodies, including the Federation of Nepali Journalists (FNJ), Society of Economic Journalists‑Nepal (SEJON), Nepal Association of Financial Journalists (NAFIJ), Female Economic Journalist Association (FEJA), Economic Media Association Nepal (EMAN) and Economic Media Society Nepal (EMSON).