Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The American Chamber of Commerce (AmCham) Nepal held its 15th member training program in Kathmandu, partnering with the Asian Development Bank (ADB) and the World Bank to promote economic growth, private sector development, and investment in Nepal.
Arnaud Heckmann, ADB’s Country Operations Head, unveiled the bank’s 2025–2029 strategic plan for Nepal, focusing on job-driven green economic transformation, human capital development, and improved public services with an emphasis on environmental sustainability. With 32 ongoing projects worth $4.3 billion, ADB’s efforts span agriculture, energy, education, transportation, and urban development, as outlined by Country Director Arnaud Cauchois.
World Bank Country Director David Sislen underscored the private sector’s pivotal role in Nepal’s progress, spotlighting ICT, energy, and tourism as key growth areas. He raised concerns over declining public expenditure, noting execution rates below 80% in fiscal years 2023 and 2024, and predicted that tourism, real estate, and trade would drive future economic expansion.
US Embassy Economic and Commercial Officer Darrin Christensen praised AmCham’s efforts, stating they would encourage American businesses to invest in Nepal, bolstered by ADB and World Bank contributions in critical sectors. Xiaobing Feng, Chief Commercial Officer at the US Embassy in New Delhi, reaffirmed US support for business ties and urged Nepali firms to join the “Select USA” program to attract American investors.
AmCham Nepal General Manager Amir R. Thapa emphasized the organization’s role as a bridge between American businesses and the Nepalese government, fostering entrepreneurship and trade. He highlighted American investments in tourism, energy, ICT, manufacturing, and carbon trading as catalysts for Nepal’s economic transformation.
The event drew representatives from AmCham member companies, the US Embassy, and regional trade administrators, signaling stronger Nepal-US economic collaboration ahead.
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