Kathmandu. In the past three decades, the market growth, duty-free access to developed countries like India, and energy purchase and sale agreements have made Nepal an attractive destination for foreign investors, said Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).
At a programme organised by the US Chamber of Commerce in Washington, President Dhakal urged American businesses to invest in Nepal by considering both the Nepali and foreign markets. He drew the attention of investors to the possibility of producing in Nepal and selling in the domestic as well as the global market.
He also informed American investors about the immense potential in hydropower due to the 10,000 MW 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 Federation of Nepalese Chambers of Commerce and Industry 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, President 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. President Dhakal is in Washington while participating in the annual meeting of the World Bank. Earlier, he had also met with senior officials of the International Finance Corporation.
