FNCCI president meets IFC country manager, highlights necessity of collaboration

KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal announced that the FNCCI is initiating a new phase of economic reform.

In a meeting with Martin Holtmann, International Finance Corporation (IFC) Country Manager for Nepal, Bangladesh and Bhutan, who is presently on an official visit to Nepal, President Dhakal stressed the importance of the government's leadership and cooperation with development partners for the success of the FNCCI's initiatives.

He pointed out that Nepal, with its abundant natural resources, vibrant and youthful workforce, and strategic geographical location, holds considerable potential. However, he emphasised that to fully capitalise on these advantages and stimulate economic growth, there needs to be a focus on enhancing the business environment, formulating policies to attract investment, and promoting entrepreneurship.

President Dhakal highlighted the necessity of collaborating with the IFC to create an environment that encourages innovation, entrepreneurship development, and sustainable economic growth.

Meanwhile, IFC Country Manager Holtmann acknowledged that the IFC has consistently been a partner in the development of the private sector and in promoting economic growth and sustainability worldwide. He affirmed that the IFC will continue to support and cooperate in Nepal's development efforts.

Holtmann expressed his pleasure at partnering with the FNCCI for sustainable economic development in Nepal.

Last year, IFC and FNCCI jointly published a pioneering study report on the role of the private sector in Nepal's economy and employment.