IBN urged to pave way to attract more FDI


Nepal-India Chamber of Commerce and Industry (NICCI) has requested the Investment Board Nepal (IBN) to sort out the existing issues of industries that have been established through foreign direct investment (FDI) to attract more foreign investment in the country.

During a meeting held today with newly appointed CEO of IBN Sushil Bhatta, Vice-president of NICCI Saibal Ghosh requested him to end the existing problems being faced by industries operating under FDI. He further requested CEO Bhatta to address the issues related to brand registration, test marketing permission and contract manufacturing, among others.

Amid this, NICCI President Shreejana Rana requested the chief executive of IBN to make more plans to bring Indian investment in the country citing that investment from the southern neighbour has been gradually declining.

Meanwhile, another Vice-president of NICCI Sunil KC informed CEO Bhatta about their plans to attract Indian investment and also requested the investment board to work together with NICCI.

“Targeting Indian investors we have planned to organise Nepal- India Partnership Summit in which we want IBN to be involved as the main partner of the event,” KC said, adding, “We also have a plan to establish Nepal Innovation Centre in India so that it would be easier for Indian investors to invest in Nepal.”

He said NICCI wants the IBN to collaborate in these projects.

Responding to NICCI delegates, CEO Bhatta said IBN is always thoughtful towards bringing Indian investment in Nepal, thus, the board is positive about coordinating with NICCI to organise the proposed events.

“IBN is also working on studying the sectors where Indian investment can be attracted and how those investments can be implemented effectively,” he said. “IBN is also willing to coordinate with NICCI to organise Nepal-India Partnership Summit.”