FNCCI urges Indian pvt sector to invest in Nepal
Kathmandu, August 24
The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has appealed to Indian investors to fearlessly invest in different sectors in Nepal.
Addressing a business meeting jointly organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) and Confederation of Indian Industry (CII) during the official visit of Prime Minister Sher Bahadur Deuba to India, FNCCI President Bhawani Rana said that the trade gap between Nepal and India is increasing, which is why Nepal seeks greater investments from Indian private and public sectors, especially in productive sector.
“The investment environment in Nepal has improved a lot in recent years with enforcement of business-friendly government policies, stable politics and implementation of investment-friendly constitution. As all these factors are crucial to the growth of business, it the right time for investment in Nepal for foreigners,” said Rana during the event held on Wednesday evening.
She also informed the Indian private sector that Nepal has recently started second-generation policy reform initiatives by reforming several laws like Industrial Enterprises Act, Company Act, Labour Act, Social Service Act and introduced new ones like Special Economic Zone Act, Intellectual Property Policy, Mines and Minerals Policy, among others.
“Both Nepal and India are blessed with natural resources and young human capital. So, we need to work collectively to convert these resources into wealth for both nations to prosper. Private sector and government of both nations should work together to tap the opportunity that Nepal holds in terms of tourism development and hydroelectricity generation,” added Rana.
Likewise, FNCCI also urged both the governments to work together to enhance regional economic cooperation and integration and boost regional trade. Similarly, she also sought simplification of trade procedures between Nepal and India.
On the occasion, Rana also informed that FNCCI and CII are organising Nepal-India Business Summit in Nepal later this year.