Kathmandu, Oct. 31: The Federation of Nepalese Chambers of
Commerce and Industry (FNCCI) Tuesday signed a Memorandum of Understanding
(MoU) with the Austrian Federal Economic Chamber (AFEC or WKO) to enhance
bilateral economic cooperation between Nepal and Austria.
President of FNCCI Bhawani Rana and vice-president of AFEC
Richard Schenz signed the the MoU on behalf of their respective organisations
in the presence of Minister for Industry Sunil Bahadur Thapa at the
Nepal-Austria Economic Forum organised here.
As per the MoU, the two business bodies will do their utmost
to facilitate, strengthen and diversify the cooperation between the firms of
the industrial and service sector of the two countries, with the purpose of
pursuing a constant expansion of cooperation.
“The WKO and FNCCI will encourage and facilitate contacts
between the companies and industrial associations of the two countries through
the exchange of business delegations, adoption of common positions, statements
or declarations in support of improving Austrian-Nepalese trade and investment
relationship,” reads the MoU.
Similarly, there will be exchange of information on matters
of reciprocal interest, such as the economic situation and policy, economic
trends, legislation on trade and investments, incentives, business
opportunities, exhibitions and fairs.
Addressing the Forum, Minister Thapa said that the
investment environment in Nepal had improved and urged the Austrian investors
to invest here with full confidence.
He emphasised on technology transfer to Nepal from Austria,
and exchange of high-level delegations between the two countries.
Rana expressed her belief that the agreement would help in
strengthening relations between the two business bodies and countries.
She urged the Austrian investors to reap the benefits of
untapped potential that Nepal offered.
“One of the major constraints of Nepal’s economic
development, political instability, is being sorted out by institutionalising
the new constitution. As the economic agenda has taken a front seat at the
political spectrum, the confidence of the investors is growing,” she said.
According to her, because of recent positive developments in
the political environment and enhancing economic environment, there has been a
huge increment in local investments in sectors like hospitality, manufacturing,
hydropower, services and agro processing, and foreign investment is also
increasing.
Schenz said that the Austrian investors were eager to expand
their business and investment in Nepal.
Austrian Ambassador to Nepal Brigitte Oppinger-Walchshofer
said that the Forum would help in strengthening bilateral relationship between
the two countries.
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