Role of development partners key to reduce trade deficit: Sr. VP Dhakal

Kathmandu, Aug. 12

Senior Vice President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal on Thursday said that support from development partners was essential to reduce the unsustainable trade deficit of the country.

Addressing a virtual meeting on 'International Investment for Nepal' jointly organised by the Investment Support Facility (ISF) and EU-Nepal Trade and Investment Programme (TIP) in collaboration with the International Investment Promotion Committee of the FNCCI, Dhakal said that the support from development partners would help make Nepali private sector skilled and competent so as to compete in the international market.

"The support will help Nepali private sector increase their productivity and competitiveness, get access to the international markets and technology transfer, and thus reduce our unsustainable trade deficit," he said.

He further said that the private sector was ready to work together with the development partners to bring meaningful reforms in the investment climate in Nepal.

Highlighting the National Economic Transformation 2030 document of the FNCCI, Dhakal said that it would be a helpful document for investors as well as those seeking investment promotion in Nepal.

"The TIP-ISF programme will certainly be a very important thrust for the private sector of Nepal, by helping to achieve our aspiration of NET 2030, in addition to helping Nepal realize Sustainable Development Goals," he said.

He further stressed the need to explore alternative sources of investment in micro, small and medium enterprises, medium and large industries and startups.

Published in The Rising Nepal daily on 13 August 2021.