FNCCI president meets UN resident coordinator to discuss private sector cooperation

KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Anjan Shrestha met United Nations Resident Coordinator in Nepal Lila Pieters Yahia on Tuesday to discuss expanding cooperation between the private sector and the United Nations.

The meeting held at the FNCCI Secretariat in Teku centred on the necessity of results-oriented collaboration among the government, the private sector, development partners and the UN to support Nepal’s economic and social development. Both sides emphasised practical measures linking skill development, entrepreneurship, investment promotion and decent employment.

Shrestha said the FNCCI was keen to advance practical programmes with the UN that would restore investment and business confidence and place youth at the core of development by generating local employment and entrepreneurial opportunities. He stressed the need for special programmes to provide small and medium enterprises (SMEs) with access to finance, technology, skills, markets and information, and suggested joint initiatives to make these enterprises competitive, digital, formal and environmentally friendly.

The FNCCI president also told the UN coordinator that Nepal had requested a three-year extension for its graduation from Least Developed Country (LDC) status, proposing to push the date to November 2029. He said additional UN assistance in productive capacity, export competitiveness, trade facilitation and the ability to meet international standards was required to smooth the transition period following graduation.

Yahia said the United Nations was positive about building a strong partnership with the private sector and reiterated that the UN remained alongside Nepal in its journey towards inclusive and sustainable economic development. She emphasised that stable and predictable policies, together with trust in national institutions, were essential for utilising Nepal’s young workforce and the potential across various sectors.

“Nepal’s graduation should not be limited merely to a change in status. It should be taken as an opportunity for sustainable economic transformation, job creation, investment expansion, and enhancement of production and export capacities,” Yahia said.

She added that the relevant UN committee would make a decision regarding the government’s request for an extension and emphasised that Nepal should utilise the time to make adequate preparations. She warned that the demographic dividend would not last indefinitely and said transforming a remittance-driven economy was a pressing necessity.

Shrestha urged an expansion of ongoing collaboration between the FNCCI and UN agencies, including the United Nations Development Programme, the International Labour Organization (ILO) and UN Women, identifying responsible business, labour standards, women’s economic empowerment, business and human rights, and inclusive economic development as priority areas.

Noting that development cooperation should go beyond traditional aid to mobilise private investment, Shrestha suggested the United Nations could help create bankable projects by bringing the government, the private sector, investors, financial institutions and development partners together on a single platform.