FNCCI calls for policy stability, private sector support to boost investment, development

KATHMANDU: Federation of Nepalese Chambers of Commerce and Supplies (FNCCI) President Chandra Prasad Dhakal has asserted that discouraging the private sector will hinder development and employment.

Speaking at the third general convention of the Federation of Nepalese Industries and Entrepreneurs (FENIE), FNCCI President Dhakal emphasised the need for policy stability and an end to actions that undermine the private sector. “The private sector has taken significant risks, creating jobs and paying taxes to the state. However, recent actions have spread misinformation, discouraging the private sector,” Dhakal said adding this has to change.

Dhakal expressed optimism about recent government policy reforms and called for their swift implementation, suggesting they could attract both domestic and foreign investment. Highlighting Nepal’s potential for large-scale projects, he pointed to the Nepal Development Public Investment Company established by the private sector and urged collaboration with the government to improve the business environment.

He recommended prioritising import substitution and export promotion industries in the forthcoming budget. The FNCCI President also urged the government to address pressing challenges in the industrial sector, such as rising prices of cement and iron, and load-shedding.

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