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KATHMANDU: The 37th conference of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) laid emphasis on sustainable entrepreneurship and business.
President Ramchndra Paudel inaugurated the two-day conference jointly organised by the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) in Kathmandu, on Monday.
Addressing the programme following the inauguration, President Paudel said the conference would be a milestone in regional business investment and network building for Nepal as a member of the Asia-Pacific region.
On the occasion, he appealed to international entrepreneurs to invest in the agriculture, tourism and energy sectors in Nepal citing that investment areas have been expanding in Nepal and laws are being formulated for facilitating investment.
The head of state said there are many opportunities in the investment and business sectors to link the immense natural resources and means such as agriculture, water resources and tourism existing in Nepal.
The progress made in recent days in the power trade sector has opened significant opportunities for entrepreneurs who want to invest in the hydroelectricity sector, he said adding, "Now India and Bangladesh are also becoming the market for Nepal's electricity.
President Paudel also appealed to all the industrialists and businesspersons to provide assistance to the survivors of the earthquake with its epicentre in Jajarkot, which caused a huge loss of life and property in Jajarkot and Rukum (West), on Friday night.
He described the small and medium industries as the backbone of the country's economy, stating that they play a role in creating employment. He expressed the confidence that entrepreneurship and trade contribute to strengthening worldwide multilateralism and consolidating global peace through mutually beneficial linkages.
"Nepal's membership in the regional trading agreements as the South Asian Association for Regional Cooperation (SAARC) and the Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation (BIMSTEC) provides access to the industries and businesses to the huge network of trade partners in this region," he added.
The President said, Nepal has an abundant active, disciplined and peace-loving workforce in the labour market, and this is an asset for the enterprises seeking the possibilities for skilled labour, innovation and entrepreneurship development.
"Nepal, which has natural diversities, carries immense possibility of tourism sector development, and I believe the investment made in this sector today will start paying tomorrow," the President said. He urged for investing in information technology, production-based industries and agriculture sectors in Nepal mentioning that these are the other feasible areas for investment.
The main speaker of the programme, former Prime Minister Baburam Bhattarai mentioned that the growing middle class and the emerging consumer market are the positive aspects of Nepal. Further, he said that there is a great potential for investment in the fields of retail, consumer goods and services. He opined that we should try to bring experience in investment, technology and development through platforms like CACCI.
On the occasion, Finance Minister Prakash Sharan Mahat urged the participants of the conference to utilise the opportunities in Nepal. He said that Nepal is looking for the meaningful support of organisations like CACCI in improving the living standards of the people of this region by making use of the immense potential in the fields of renewable energy, tourism, infrastructure, and information technology among others.
FNCCI President Chandra Prasad Dhakal, while delivering a welcome speech at the beginning of the conference, said that sustainability, entrepreneurship and business are the basis for creating a prosperous future in the Asia-Pacific region.
He opined that Nepal, located between two emerging economies — China and India — will be an attractive investment destination for entrepreneurs in the Asia Pacific region. He opined that this conference with the participation of businessmen, investors, policymakers, government and private sector from the Asia Pacific region will be more helpful for Nepal.
He also said that there are investment opportunities in Nepal's hydropower, tourism, information technology and manufacturing sectors. He said that tourism infrastructures such as hotels, car parks, and theme parks are areas that have high returns. He also urged to invest in this sector citing the possibility of an increase in electricity export to India and Bangladesh.
CACCI Vice President and former Federation President Pradeep Kumar Shrestha claimed that the conference will be historic to develop sustainable and environmentally friendly entrepreneurship, to share experiences of economic development and to expand our economic relations.
Likewise, Peter McMullin AM President, CACCI, assured that the 37th conference of CACCI will be helpful in Nepal's development efforts. He said that the conference will be a milestone in attracting investment, technology and development models in Nepal.
At the opening ceremony, FNCCI Senior Vice President Anjan Shrestha opined that the conference will set a common vision for unity, cooperation and a prosperous future. He claimed that the conclusions of the conference will be important for the prosperity of the Asia Pacific region including Nepal.
The confederation is an umbrella organisation of 28 national-level industrial and commercial federations/associations in 26 countries in the Asia Pacific region.
The conference being held with the theme 'Chambers of Commerce Helping Business Get Set For The Future' will conclude today.
Previously, the 26th conference of CACCI, which succeeded in creating a good identity in the World Economic Forum, was held in cooperation with FNCCI in Kathmandu.
More than 60 business leaders from member countries from the Asia Pacific region and more than 200 people, including entrepreneurs and businesspersons from Nepal and government representatives participated in the conference.
