IBN, FNCCI to jointly promote investment

Kathmandu, Oct. 26

The Investment Board of Nepal (IBN) and Federation of Nepalese Chambers of Commerce and Industry (FNCCI) have expressed commitment to jointly promote Foreign Direct Investment (FDI) in Nepal.

In a meeting between the two organisations Tuesday, Chief Executive Officer of the IBN Sushil Bhatta and President of the FNCCI Shekhar Golchha agreed to sign a memorandum of understanding for the same.

"The government and private sector both have the responsibility to fulfill the national aspiration of 'Prosperous Nepal, Happy Nepali'. Board is ever ready to collaborate with the private sector to achieve this goal," said Bhatta.

According to him, the IBN is moving ahead in cooperation and collaboration with the private sector in terms of policy reforms needed in order to attract investment in Nepal.

Stating that the country needs to diversify its investment sectors, he said, "We have lots of investment potential so we need to promote multiple sectors for investment. For this, IBN and private sector need to cooperate," Bhatta said.

Likewise, Golchha said that the FNCCI is a capable and responsible body to hold discussions with the domestic and foreign investors. According to him, both the organisations should join hands to reach the foreign investors.

"We have an active network at the national and international level. We can easily reach the investors through that network and attract investment to Nepal," he said.

Joint Secretary of the Ministry of Industry, Commerce and Supplies, Dr. Narayan Regmi, said that there was a wide mismatch in the investment commitment and its realization and stressed on an additional study on the matter.

He expressed commitment of the ministry in policy and other reforms essential to make the investment climate better.

Senior Vice President of the FNCCI, Chandra Dhakal, Chairman of the International Investment Promotion Committee, Anand Bagaria and Under Secretary of the IBN Ramesh Adhikari had also stressed on the public-private partnership for the promotion of investment. 

Published in The Rising Nepal daily on 27 October 2021.