DPM Paudel, FNCCI President urge American businesses to invest in Nepal

WASHINGTON DC: Deputy Prime Minister and Minister for Finance, Bishnu Prasad Paudel, has urged international investors to invest confidently in Nepal's information technology (IT) sector, citing immense potential for high returns. Speaking at an interaction programme organised by the US Chamber of Commerce in Washington today, Minister Paudel encouraged investment in Nepal's physical infrastructure, tourism, agriculture, energy, and other sectors.

On the occasion, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Dhakal highlighted that market growth, duty-free access to developed countries like India, and energy purchase and sale agreements over the past three decades have made Nepal an attractive destination for foreign investors. He urged American businesses to consider both the Nepali and foreign markets for investment, drawing attention to the possibility of producing in Nepal and selling in both domestic and global markets.

Dhakal also informed American investors about the immense potential in hydropower due to the 10,000MW power purchase agreement with India and the recent understanding with Bangladesh. Stating that Nepal's blend of nature and culture attracts tourists, President Dhakal invited investors to invest in tourism infrastructure. He highlighted the potential to develop hill stations with a cool and healthy environment within a two-hour distance from the Indian border, which has the world's largest population.

Informing that the FNCCI has established an FDI Help Desk for investment facilitation, President Dhakal assured investors of necessary support. The FNCCI is providing facilitation through the FDI Help Desk. Mentioning that Nepal has sufficient foreign exchange reserves, Dhakal said that the investment risk has been decreasing. He also informed that the government has prepared legal reforms and the framework for a Bilateral Investment Agreement.

The Nepali delegation including FNCCI President Dhakal and led by DPM Paudel is in Washington to attend the annual meetings of the World Bank and International Monetary Fund (IMF).  

The interaction programme was attended by representatives from multinational companies, including Google, Meta, and Coca-Cola.