112th International Labour Conference: FNCCI President Dhakal calls for investment in Nepal
KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal addressed the 112th International Labour Conference in Geneva, Switzerland, on Wednesday.
He argued that Nepal's improved labour relations, recent economic reforms, and its strategic location between India and China have significantly increased investment opportunities in the country.
Dhakal, representing employers at the conference, emphasised the growing collaboration between employers and employees in relation to workers' social security. He highlighted the importance of industrial expansion to reinforce these positive developments.
To further enhance social security, gender equality, and opportunities for sustainable income generation, Dhakal urged the employers at the conference to consider investing in Nepal. He drew attention to the recently signed power purchase agreement with India for 10,000 Megawatts (MW) and ongoing discussions with Bangladesh, underscoring the assured market for Nepal's hydropower production.
The FNCCI President also identified the potential for developing tourism infrastructure in Nepal's hill stations, citing the rising purchasing power of consumers in large, emerging economies like India and China.
He went on to mention other sectors beneficial for investment, including information technology and agro-based industries. Dhakal informed the conference about the government's efforts to facilitate investment, which include drafting bilateral trade agreements, reforming laws to simplify investment procedures, and implementing a policy to eliminate double taxation.
President Dhakal also held meetings with senior officials from the International Labour Organisation (ILO) and the International Organisation of Employers (IOE) on the sidelines of the conference.
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