Foundation for economic reforms being laid: FNCCI President Dhakal

KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal has stated that the foundation for economic reforms is being laid in the country. 

Dhakal made this statement during a meeting with Imad N Fakhoury, International Finance Corporation (IFC) Regional Director for South Asia, held at the FNCCI Secretariat on Monday.

Dhakal informed Fakhoury that the government has adopted the FNCCI's recommendations and is progressing with new-generation reforms. He emphasised the potential for collaboration between the government, private sector, and international development partners to promote economic growth.

Dhakal highlighted the potential for the FNCCI and IFC to enhance business competitiveness in both local and international markets. He briefed Fakhoury on their joint report, 'State of the Private Sector in Nepal', noting its significance for the business community and policymakers. He also mentioned ongoing collaboration with the IFC Nepal team to introduce ESG (Environment, Social, and Governance) programmes in the private sector, expressing confidence in the transformative potential of this partnership.

On the occasion, Fakhoury stressed the importance of public-private partnerships, acknowledging Nepal's current economic challenges but also highlighting numerous opportunities for the country.

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