Kathmandu, Dec. 8
In the past one and a half years, the
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has
accomplished several significant milestones aimed at enhancing Nepal’s economic
and investment climate, said its President Chandra Prasad Dhakal in an
interaction with journalists in Kathmandu on Sunday.
"The FNCCI successfully advocated for
removing provisions in the Commission for Investigation of Abuse of Authority
(CIAA) Act, which allowed the oversight of private sector matters. Following
FNCCI's intervention, political parties agreed to limit CIAA’s reach into
private sector activities, securing a more business-friendly environment,"
said Dhakal.
Likewise, the FNCCI also led efforts to
resolve the longstanding dispute over dedicated and trunk power lines and prevent
the Nepal Electricity Authority (NEA) from disconnecting electricity lines to
industries.
The private sector body also initiated the
formation of an investment company with a capital of a capital of Rs. 10
billion. "To revitalise the investment climate, we have decided to
establish the company which aims to mobilise small-scale investments nationwide
and encourage private sector participation in large-scale projects," said
Dhakal.
Additionally, FNCCI played a pivotal role
in drafting a bilateral investment agreement framework, facilitating
discussions with multiple countries to attract foreign investments.
Meanwhile, FNCCI organised four major
investment summits to promote Nepal as an ideal investment climate. Two
Nepal-China Business Summits were held in collaboration with the China Council
for the Promotion of International Trade (CCPIT), one in September 2023 and
another in December 2024, with participation from over 150 Chinese
entrepreneurs. Likewise, the Nepal-India Summit in June 2023 and the
Nepal-Dubai Business Forum in November 2021.
FNCCI also hosted the Asia-Pacific Regional
CACCI Conference in Kathmandu last year which brought together 200
entrepreneurs, including 60 international participants. For the first time, a
women entrepreneurs’ conference was held outside Kathmandu in Bhairahawa,
underscoring FNCCI’s commitment to inclusivity, read a statement issued by the
FNCCI.
Similarly, it led reforms on
investment-related laws and advocated for structural economic reforms which
resulted in the establishment of a high-level commission chaired by former
Finance Secretary Rameshwar Khanal, with President Dhakal and other private
sector leaders as its members.
"We are still committed to work from
our side as well as collaborate with the government and other stakeholders in
improving the investment climate in Nepal, promoting it as an investment
destination and supporting the economic growth," said Dhakal.
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