KATHMANDU, MARCH 27
In bid to promote internal and external investment in the country through mutual cooperation, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Investment Board Nepal (IBN) in Kathmandu signed a memorandum of understanding (MoU) today.
The MoU was signed by FNCCI President Shekhar Golchha and IBN Chief Executive Officer Sushil Bhatta in the presence of Finance Minister Janardan Sharma.
As per the agreement, a Foreign Direct Investment Help Desk will be set up in the secretariat of the federation.
The board will provide technical assistance for the operation of the help desk as well as capacity building, skill development and knowledge exchange.
The federation will actively assist the board in identifying investment projects as per the needs of the nation and will help to find foreign investors, according to the agreement. Similarly, the federation will assist in hosting flagship events related to investment in the country and abroad.
Similarly, the two organisations, as per the concept of public-private partnership, will continue to collaborate and exchange knowledge, experience and information related to investment, and cooperate for policy reforms.
Speaking at the event, Finance Minister Janardan Sharma said that the whole nation would benefit from this agreement as it promotes internal and external financing. Stating that the government has prioritised attracting all kinds of internal and external investment, he suggested that the government give a clear outline for the returns to investors.
He further said that the government is working to attract maximum investment by conducting a methodical study as investment pledges are not fully materialised.
Chief Executive Officer of the Investment Board, Bhatta, said that the understanding between the board and the federation was a historic beginning and expressed confidence that he would receive the full support of the federation.
Bhatta assured of the success of the agreement and said that the common objective of both the organisations is to spread happiness and prosperity to citizens through promotion of internal and external investment in the country.
President of the FNCCI Golchha expressed confidence that the understanding would be a cornerstone in the promotion of foreign and domestic investment in the country. He said the agreement has opened the door for cooperation in investment promotion.
He also expressed confidence that the help desk would be fundamental in attracting investment .
"Today's understanding will also help in achieving FNNCI'S roadmap for success - the national economic transformation (NET 2030)," he said.
A version of this article appears in the print on March 28, 2022, of The Himalayan Times.
