FNCCI President Dhakal Urges AIIB to Foster Investment in Nepal

In a pivotal meeting held in Chandragiri on Tuesday, Chandra Dhakal, the President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), extended a formal request to the board officials of the Asian Infrastructure Investment Bank (AIIB) to consider investing in Nepal. This gathering, which brought together representatives from both the private sector and the AIIB, was focused on identifying and seizing investment opportunities across various sectors within Nepal.

Dhakal underscored Nepal’s substantial potential for growth and development, emphasizing its strategic geographic location between two economic powerhouses, India and China. He pointed out the advantageous position this affords Nepal in terms of market access, particularly for goods produced within the nation.

During the discourse, discussions delved into the sectors of transportation, energy, urban development, among others, where AIIB’s investment could significantly contribute to Nepal’s sustainable development goals. Dhakal emphasized that Nepal’s private sector is keen on forging strategic partnerships with entities like AIIB to harness the country’s growth prospects effectively.

Highlighting Nepal’s achievements in achieving external sector stability, Dhakal informed the AIIB officials of the government’s ongoing efforts to streamline regulations and improve the investment climate. He revealed plans for the amendment of 12 Acts aimed at facilitating a more conducive environment for investment.

Furthermore, Dhakal apprised the AIIB delegation of Nepal’s intention to finalize bilateral investment agreements with prospective nations, signaling the government’s commitment to fostering international investment relations.

The FNCCI President also extended an invitation to the AIIB officials to participate in the upcoming Nepal Investment Summit scheduled for April 28-29, stressing the inclusive involvement of the private sector as co-organizers for the first time.

The meeting, attended by representatives from the government, private sector, and AIIB, culminated in a call for greater collaboration between AIIB and Nepal’s private sector to expedite the nation’s socio-economic advancement. Dhakal reassured the attendees of the private sector’s unwavering commitment to timely and quality project completion, expressing eagerness for enhanced cooperation with institutions like AIIB in the future.