FNCCI Vision 2025: Presenting Chandra Dhakal’s Key Agendas

KATHMANDU: KATHMANDU: The panel of Chandra Prasad Dhakal, candidate for the post of senior vice-president at the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has released its ‘FNCCI Vision 2025’ ahead of the organization’s annual general meeting (AGM) and election which started in Kathmandu from Thursday.

The FNCCI Vision 2025 is a 25-point agenda formulated by Dhakal and his group.  Unveiling the FNCCI Vision 2025 on Wednesday, Dhakal said that the vision presents a roadmap that FNCCI and the entire private sector will adopt to ensure the growth of the domestic private sector, boost development and foster high economic growth in the country. “The FNCCI Vision 2025 is not an election manifesto but the roadmap of development and growth that my team will adhere to in the coming years,”Dhakal clarified.

Here are major highlights of the FNCCI Vision 2025

Immediate Priorities

1. The economy of Nepal is undergoing its worst time due to the COVID-19 pandemic. Businesses of all types have been affected by the coronavirus and the private sector is doing its best to sustain and preserve the economy from degrading further. More than 400,000 small and medium businesses across the nation have been shut down. Therefore, the first responsibility of the federation and its leadership will be to revive these defunct and closed enterprises.
2. The FNCCI leadership will take the responsibility of extending access to the facilities of refinancing and other facilities announced by the government to the real victims in the interest of the entrepreneurs who have been compelled to bear extreme financial losses due to the COVID-19. The federation will suggest the government to introduce additional relief programs even if a supplementary budget is required for the purpose.
3. Due to legal, procedural and structural complexities, different subsidies and facilities announced by the government have not reached businesses that are largely affected by the pandemic and are fighting for survival. The FNCCI will have to take creative but decisive initiatives to save the industries and businesses that are on the verge of closing down through procedural reforms.
4. The COVID-19 pandemic has not only added challenges, but also opened the door to new opportunities. This crisis has forced all of us to accelerate the pace of building a digital economy. The rapid development in e-commerce, cashless transactions, instant electronic tax matching, use of digital technology and platforms in production and marketing of services and goods, online education, telemedicine, among others is inevitable. Therefore, FNCCI will encourage and empower its members to transform into new innovative businesses. The government needs to take the initiative to provide free internet to the community and increase IT literacy.
5. The banking and productive sectors should work in a coordinated manner. It is the responsibility of both the government and the federation to create a cooperative environment by systematically addressing the problems of both the sectors.

Long-term Priorities

1. Within the next five years, a separate strategy paper will be formulated to implement the concept of ‘FNCCI Vision 2025’ by transforming the federation into a federal parent organization of the private sector. The primary aim of FNCCI Vision 2025 is to give international recognition to Nepali enterprises and products and to gradually make the country’s economy self-reliant.
2. Economic development of the country is not possible without significant investment from domestic and foreign private sector. Creating an investment-friendly environment requires equal participation and cooperation from the government and the private sector. In order to facilitate the investment coming in from the Investment Board Nepal, Industrial Promotion Board and the Department of Industry, we plan to establish a professional investment facilitation branch in the FNCCI and provide online and direct free consultancy services.
3. Good employer-labor relations are indispensable prerequisites for the country’s economic development. Emphasis will be laid on implementing the Labor Act and initiatives will be taken to create an atmosphere of trust among all stakeholders by removing the current weaknesses, confusion, uncertainty and duplication in the implementation of the Social Security Fund.
4. Opacity and corruption are considered the main obstacles to the country’s economic prosperity. Recognizing the importance of good governance of the country, the federation has already launched a campaign to promote clean and accountable business. This will be made more effective.
5. Promotion and expansion of industry and business to build a self-reliant economy will be stressed upon. One of the main causes of unemployment is the mismatch between demand and supply of workers in the labor market. The FNCCI will work to generate skilled labor force in the country