Kathmandu. Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal has urged the Nepalis and non-resident Nepalis in foreign employment to invest some part of their income in Nepal.
Addressing a greetings exchange programme organized by the Nepali Public Relations Committee UAE on the occasion of the New Year 2082 BS, Chairman Dhakal said that there is a lot of scope for investment in Nepal and many sectors are yet to be explored.
“I think there is a lot of potential in Nepal. Many areas remain to be explored. However, in Nepal, there is no possibility and everything is taken negatively. Moreover, Nepalis living abroad are also compared and opposed to Nepal by looking at the development and technologies of foreign countries. I want to tell them here. There are many possibilities in Nepal if we really invest and work hard like we did abroad,” he said.
He said that the recent legal reforms carried out by the Government of Nepal have enthused the investors and the investment environment is also being created in the country.
“Recently, the Government of Nepal has tried to pave the way for investment in the country by amending more than two dozen laws. This has been done at the initiative of the private sector, especially the Federation of Nepalese Chambers of Commerce and Industry. Ever since I came to the leadership, we have been taking special initiatives to create an investment-friendly environment in the country and bring in foreign investment. In addition to foreign investment, if non-resident Nepalis and Nepalis in foreign employment can also invest some of their share in different sectors of Nepal, then development will be possible as expected. We all have to work together for the development of the country,” he said.
He also urged non-resident Nepalis and Nepalis in foreign employment to invest in the country and help increase production, employment and revenue.
“You’ve done very well here. If you invest only a fraction of your capital in Nepal and help increase production, employment and revenue there, then surely the pace of our development can be accelerated. All of you will definitely return to Nepal after some time. At that time, that investment can support you too. The results will help make your life easier,” he said.
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Giving his own example of coming from Baglung to now the leadership of the umbrella organization of the private sector of Nepal and has been able to provide direct employment to more than 25,000 people through various companies, he reiterated that there is a lot of potential in Nepal if we work hard, diligently and honestly.
Stating that Nepal Development Company worth Rs 10 billion has been established to provide investment opportunities to Nepalis in foreign employment, he urged the Nepalis in foreign employment to invest in the company.
Stating that the company is going to invest in hydropower, tourism, industry and various potential sectors by collecting the scattered capital of Nepalis within and outside the country, Dhakal urged the Nepalis and non-resident Nepalis in foreign employment in different countries to participate in it.
Stating that the investment climate in Nepal was improving, he expressed the belief that the recent law reforms carried out by the Government of Nepal would help in creating an environment for investment in the country.
Stating that there is no possibility in the country and it is necessary to remove both the statements that development can be done only with foreign investment, he said that Nepal Development Company worth Rs 10 billion would be invested in the construction of big infrastructure projects through domestic capital.
“Both the statements that there is no possibility in the country by comparing it with different developed countries and that foreign investment is needed to develop big infrastructure projects are both wrong. They need to be broken. It is possible for us to raise investment in big projects from our capital by collecting small capital scattered by using scattered capital. More than Rs 40 billion can be invested if we take 75 to 80 percent loan considering the Rs 10 billion we have set up as equity. It is possible to raise investment in many big projects as well,” he said.
Minister for Health and Population Pradeep Poudel, Nepal’s Ambassador to the UAE Tej Bahadur Chhetri and other speakers spoke on the occasion.
