A memorandum of understanding was signed between the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Department of Industry (DoI) on March 1 with the objective of conducting a qualitative and quantitative analysis of the manufacturing industries operating in Nepal. The MoU was signed by FNCCI President Shekhar Golchha and Director General of DoI, Jiblal Bhusal.
According to the agreement, rights to any intellectual property in relation to database will be jointly owned by the FNCCI and the department. Both the organisations have committed to collect data related to small, medium and large scale industries within the next six months.
According to the mutual agreement, development opportunities in the industrial sector will be explored and the problems faced by the industries will be identified. Likewise, the agreement has mentioned cooperation in planning and policymaking to create a sustainable business environment, to formulate strategies and action plans to create an environment conducive to revenue growth and job creation.
The MoU states that the department will make maximum efforts to rehabilitate industrial areas, help in increasing exports from Nepal by developing quality and developing infrastructure as well as conduct research on possible benefits that Nepal can receive from WTO membership. The MoU also stated that a six-member task force comprising of members of both the organisations will be formed under the coordination of the Department to work concretely in the areas identified for mutual cooperation.