NCC to cooperate with Israel on IT, other investment sectors in Nepal
KATHMANDU: Nepal Chamber of Commerce (NCC) and Israel have agreed to cooperate in the IT and other sectors for investment.
With the establishment of peace in Israel, a new agreement aims to foster cooperation in the IT, agriculture, tourism and hospitality sectors and create employment opportunities.
In a meeting in Kathmandu, NCC President Kamlesh Kumar Agrawal and Israeli Ambassador to Nepal, Shmulik Arie Bass, pledged to continue their previous cooperation and expand further investment in Nepal.
NCC President Agrawal urged the Israeli Ambassador to bring Israel's agricultural and IT expertise to Nepal, highlighting Israel's recent peace establishment. He encouraged the continuation of the government's study-and-earn agriculture programme and called for maintaining the flow of Nepali domestic workers to Israel and providing employment opportunities in the hospitality and construction sectors.
Agrawal also called for Israeli investment in Nepal's hydropower, tourism and hotel sectors. He mentioned that recent amendments to laws in the country have created an investment environment and suggested exploring investment opportunities through B2B channels.
On the occasion, NCC's Immediate Past President Rajendra Malla stressed the importance of creating an investment-friendly environment between Israel and Nepal, particularly in the IT sector. He highlighted that Nepal's IT-related businesses are more cost-effective and geographically advantageous compared to other countries.
During the meeting with NCC office bearers, the Israeli ambassador expressed enthusiasm for collaborating with Nepal. He stated that the Israeli government is ready to sign agreements with Nepal to employ domestic and agricultural workers and support other sectors as well. He highlighted the minimum wage in Israel, which stands at $1,600, urging Nepal to capitalise on this opportunity. The ambassador assured that he would facilitate meetings and discussions between investors from both countries.
