ICC, MIICCIA to cooperate with NCC for investment in economic, commercial sectors of Nepal

KATHMANDU: Indian Chamber of Commerce (ICC), and Millennial India International Chamber of Commerce Industry and Agriculture (MIICCIA) have agreed to cooperate with Nepal Chamber of Commerce (NCC) for investment in the economic and commercial sectors of Nepal

Prior to the commencement of the Nepal Investment Summit 2024 on Sunday in Kathmandu, there was a discussion between the chambers of commerce of Nepal and India regarding bilateral investment and trade facilitation.

Business delegations and representatives from the ICC and MIICCIA visited Nepal at the invitation of the NCC.

NCC President Kamlesh Kumar Agrawal welcomed the office bearers of both the ICC and MIICCIA at the Chamber Bhawan in Jamal, Kathmandu.

Officials from both Indian chambers discussed the investment environment, legal aspects, and other issues in Nepal. On this occasion, NCC President Agrawal stated that Nepal is an excellent destination for investment due to the availability of the labour force and return assurance.

He said the discussion about the economic relations between the two countries and various aspects of the economy was important, and added that as representatives of the private sector, Nepal-India economic relations were their main interest.

President Agrawal stated that the NCC is always ready to cooperate with the Indian private sector on matters such as increasing the production of export goods from Nepal, customs facilitation, and other issues. Agrawal emphasised that there is a lot of potential for investment in tourism, hydropower, natural resources, and small and medium industries.

In the meeting, ICC officials thanked the NCC for inviting them to the investment summit. They expressed their willingness to invest in Nepal in cooperation with the NCC and requested necessary facilitation.

MIICCIA President Anil Trigunayat stated that they were interested in investing in energy, tourism, and other potential sectors.