NCC, NRNA sign MoU to boost investment, trade

KATHMANDU: Nepal Chamber of Commerce (NCC) and the Non-Resident Nepali Association (NRNA) signed a memorandum of understanding (MoU) to promote investment, trade and business expansion.

NCC President Kamlesh Kumar Agrawal and NRNA President Dr Hemraj Sharma signed the MoU at a programme in Kathmandu on Sunday. The agreement sets out cooperation on investment promotion, trade summits and other business events.

Agrawal said he hoped the MoU would pave the way for increased foreign investment. “This MoU should not be restricted just to paper,” he said, urging practical steps to deliver results in investment, trade, employment and economic transformation.

Dr Sharma highlighted legal complexities that hinder foreign direct investment in Nepal and said the MoU would help address such issues at the policy level. “The MoU will of course facilitate at the policy level in creating an atmosphere conducive to bringing in additional foreign investment,” he said.

Under the agreement, the NCC and NRNA will jointly organise an Investment Conference, road shows, a Trade Summit and other business events. Both parties will also cooperate to promote export-oriented industries, small and medium enterprises and startups, and will run training, workshops and seminars for capacity building.

Dr Sharma pledged a campaign to connect the skills, knowledge, experience and capital of Nepalis abroad with Nepal’s development efforts, and said the NRNA should serve as a common platform for Nepalis living overseas to contribute to the country’s economic and social development.

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