FNCCI President Dhakal urges global community to invest in Nepal

WASHINGTON DC: Federation of Nepalese Chambers of Commerce and Industries (FNCCI) President Chandra Prasad Dhakal has urged the global community to consider investing in Nepal. Currently in the USA to attend the annual meetings of the World Bank and International Monetary Fund (IMF), Dhakal highlighted the enabling environment for foreign investment in Nepal and the amendments to legislation to facilitate such investment.

During a meeting with high-ranking officials of these agencies on Wednesday, Dhakal pledged necessary coordination on the part of the FNCCI to assist foreign investors considering investment in Nepal. In a meeting with Imad N Fakhoury, International Finance Corporation (IFC) Regional Director for South Asia, Dhakal discussed the IFC's role in empowering Nepal's private sector. They also addressed economic recessions in the wake of the Covid 19 pandemic and the conflict between Russia and Ukraine, and their repercussions on Nepal's economy.

Following the meeting, Dhakal mentioned that discussions with IFC Regional Director Fakhoury focused on potential areas for foreign investment in Nepal, including hydropower, tourism infrastructure, and Information Technology (IT). He called on the global community to consider investments in these areas. The meeting was attended by other IFC officials and FNCCI representatives.

On the same day, FNCCI President Dhakal met with British International Investment's Executive Director Samir Abhyankar to discuss increasing investment in Nepal's tourism and hospitality sector, hydropower, and infrastructure sectors, considering the tremendous potential of these sectors.

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