Chamber accreditation of USA received

Kathmandu, Nov. 2

The American Chamber of Commerce (AmCham), the umbrella organisation of American-invested businesses in Nepal, received the membership of the US Chamber of Commerce (USCC) in the United States.

Senior Vice President for South Asia of the USCC Atul Kashyap and Head of International Relations John Murphy presented the membership certificate to Ajit Shah, President of AmCham Nepal at a programme organised on Thursday morning in the USA.

AmCham Nepal has received membership within the two years of its establishment.

Shah said that it is now possible to request to make investments in Nepal from all over the world through his association. "This achievement will prove to be a milestone for bringing in foreign investment in Nepal," he said.

President Shah also announced that AmCham Nepal will organise the US-Nepal Economic Summit in Nepal in 2024. The economic summit will be attended by the private sector of the USA and AmCham members from different countries.

Shah informed that AmCham plans to work on skills development of human resources in Nepal.

Shah said that AmCham Nepal is taking a policy initiative to eliminate the obligation to pay taxes in both countries when conducting business by investing in America or Nepal through foreign investment.

American investment is currently being made in energy, information technology and tourism in Nepal. AmCham Nepal currently has 44 members, where more than 15,000 have got direct and more than 100,000 indirect employment.

The AmCham has its chapter in 130 countries around the world where more than 3 million business organisations are affiliated.

Addressing the membership handover programme, Foreign Minister of Nepal, NP Saud, emphasised that the USA and the private sector should increase investment in Nepal's energy sector.

Minister Saud currently is in an official visit to the USA.

Similarly, American Ambassador to Nepal Dean Thompson mentioned that the private sector plays an important role in running the country's economy.

Atul Kashyap said that Nepal has a lot of potential for green energy and focusing investment on it will be a successful venture.

Likewise, Nepali Ambassador to the USA, Dr. Sridhar Khatri said that more than one million jobs can be created with an investment of Rs. 1 billion in the IT sector. 

 Published in The Rising Nepal on 3 November 2023.