CNI, NRNA ink pact to promote FDI in Nepal

Kathmandu, October 25

The Confederation of Nepalese Industries (CNI) and Non-Resident Nepali Association (NRNA) have agreed to jointly promote investment in the country and Nepali products abroad.

An agreement to this effect was signed between CNI President Satish Kumar More and the newly-elected President of NRNA Kumar Panta. On the occasion, More said that the role of NRNs in bringing in foreign expertise and technology in Nepal’s industrial development is crucial and stressed on the need for NRNs and private sector to work together.

“Nepal has a high scope for investment in sectors like infrastructure, hydropower, tourism, agriculture and technology. These are the sectors where the private sector and NRNs should coordinate in bringing in foreign investment,” said More.

Similarly, CNI also urged NRNA to make its Investment Fund more effective and mobilise it for country’s development as soon as possible.

Hari Bhakta Sharma, immediate past president of CNI, said NRNs should contribute to the development process of Nepal by sharing the development experience and expertise of foreign countries.

NRNA President Panta said that the association will work together with the private sector in Nepal to attract foreign investment, especially in the manufacturing sector.

He also said that NRNA under his leadership will work to bring in foreign investment worth billions of rupees into the country. Immediately after being elected to the top post of NRNA, Panta had vowed that NRNs would invest Rs 10 billion in various infrastructure development projects in the country this fiscal.