FNCCI President Dhakal requests AIIB to invest in Nepal

KATHMANDU: In a meeting between the board officials of Asian Infrastructure Investment Bank (AIIB) and private sector representatives in Chandragiri on Tuesday, Chandra Dhakal, President of Federation of Nepalese Chambers of Commerce and Industry requested the AIIB to invest in Nepal.

The meeting specifically dealt with exploring potential investment opportunities in Nepal across various sectors. Talks were also held on how AIIB could contribute the most in sectors like transportation, energy and urban development, among others. Discussions were held on how the private sector could contribute to the sustainable development of Nepal.

While presenting his views, FNCCI President Dhakal mentioned that Nepal is a country with immense potential for growth and development. He informed the AIIB board officials that the private sector is eager to leverage this potential through strategic partnerships with organisations like AIIB. Dhakal also said that Nepal is strategically located between two economic giants, India and China, which means Nepal can provide easy market access to goods produced in Nepal to two of the world's biggest markets.

Dhakal highlighted that there are investment opportunities in infrastructure, energy, tourism and agriculture in Nepal. He also informed the officials about the external sector stability that Nepal has achieved. He mentioned that the country is now focused on improving domestic consumption. He said AIIB has already been a key partner in several important projects in Nepal, and we are eager to explore new avenues for collaboration.

FNCCI President Dhakal also informed the board officials of AIIB that the Nepali government is in the process of amending 12 Acts so as to improve the investment climate of the country. He stated the government is serious about streamlining processes and regulations to create a better 'doing business' climate. He further apprised the officials of the government's plans to sign bilateral investment agreements with potential countries. Dhakal said the framework for the bilateral investment agreement is expected to be finalised soon.

Further talking about investments, Dhakal informed the officials about the Nepal Investment Summit which is scheduled for April 28-29. He requested the AIIB delegation to disseminate this information to all member nations. The good aspect of the Investment Summit this time is that the private sector too has been included as co-organisers, he stated.

Dhakal also mentioned that the private sector of Nepal has been leading the country's economic development and will continue doing so in the future. "As president of FNCCI, I can assure you that we will leave no stone unturned for the socio-economic development of Nepal", he said. He said the private sector has always finished its projects in time and of quality. He added the private sector is now looking for more cooperation and collaboration with institutions like AIIB.

During the meeting, board officials of Asian Infrastructure Investment Bank (AIIB), government officials and private sector representatives were present.