Nepal becomes prime investment hub for foreign investors, says Dhakal

October 25, 2024, 02:45:07 PM |

KATHMANDU: Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), highlighted Nepal’s growing appeal as an investment destination during an event held by the U.S. Chamber of Commerce in Washington, D.C. Dhakal emphasized that favorable conditions, including duty-free access to markets in India and other developed nations, along with promising power purchase agreements, make Nepal increasingly attractive for foreign investors.

During his address, Dhakal noted that Nepal’s market has expanded significantly over the past three decades, making it a strategic base for businesses targeting both regional and global markets. With trade agreements in place, he encouraged investors to take advantage of Nepal’s unique geographical and economic positioning by establishing production bases that can cater to both local and international consumers.

Dhakal also spotlighted the country’s vast hydropower potential, underscored by agreements with neighboring countries. The recent agreement to export 10,000 megawatts of electricity to India and an additional partnership with Bangladesh emphasize the substantial opportunities in Nepal’s hydropower sector. “These agreements indicate Nepal’s readiness to supply clean energy to the region and highlight our robust hydropower potential,” Dhakal remarked to the U.S. investors.

Moreover, he urged investors to consider Nepal’s tourism sector, citing the country’s rich cultural heritage and natural beauty as major attractions. Nepal’s proximity to India, one of the world’s most populous countries, offers opportunities for developing accessible and eco-friendly hill stations that appeal to both local and international tourists.

To support foreign investors, Dhakal mentioned that FNCCI has recently established an FDI Help Desk, dedicated to streamlining the investment process and addressing investor needs efficiently. This initiative reflects FNCCI’s commitment to making foreign investment in Nepal as seamless as possible.

Dhakal also highlighted Nepal’s secure financial environment, mentioning that the country maintains sufficient foreign reserves to ensure stability and reduce investment risks. Furthermore, he acknowledged ongoing government efforts to reform investment laws and establish bilateral agreements, which contribute to a more business-friendly environment.

As Nepal gears up for rapid economic development, FNCCI and government representatives are keen to position the nation as a favorable hub for foreign direct investment.

Fiscal Nepal |

Friday October 25, 2024, 02:45:07 PM |