FNCCI President 60th AGM Speech: Chandra Prasad Dhakal Unveils Economic Roadmap
4th May 2026, Kathmandu
The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) marked a historic milestone during its 60th Annual General Meeting (AGM) in Kathmandu.
FNCCI President 60th AGM Speech
Addressing the inaugural session, FNCCI President Chandra Prasad Dhakal delivered a powerful keynote speech reflecting on six decades of private sector resilience and outlining a strategic roadmap for Nepal’s economic transformation.
Six Decades of Strengthening Nepal’s Economy
President Dhakal emphasized that the 60-year journey of FNCCI is not merely a count of years but a history of struggle, partnership, and determination that has built the backbone of Nepal’s economy.
A National Pillar: FNCCI has acted as the umbrella organization for businesses of all sizes—small, medium, and large—uniting them under a single platform for collective prosperity.
Resilience Against Adversity: Despite political instability, natural disasters, and global economic shifts, the Federation has remained a steadfast advocate for a business-friendly environment.
Strategic Partnerships: PSPP and Economic Reform
A major highlight of the address was the government’s recent adoption of the Private Sector Promotion and Protection Strategy (PSPP).
Policy Security: Following FNCCI’s advocacy, the new government passed the PSPP in its first cabinet meeting, guaranteeing both physical and policy security for entrepreneurs.
Second-Phase Reforms: President Dhakal noted that a high-level economic reform recommendation commission is already working on repealing outdated laws to foster a more competitive market.
National Economic Transformation 2030: FNCCI continues to advocate for the amendment or abolition of restrictive laws to align with its vision for 2030.
Opportunities Amidst Challenges
Dhakal pointed out that Nepal currently holds an “unprecedented opportunity” due to a stable government with a near two-thirds majority in parliament.
Demographic Dividend: With a median age of 25, Nepal possesses a young workforce that must be utilized through dignified, high-wage employment within the country.
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Market Access: Nepal enjoys duty-free market access to developed nations and sits between the massive markets of India and China.
Investment Benchmarks: While South Korea and Nepal had comparable per capita incomes in 1960, Korea’s has surged to $40,000 while Nepal’s sits at $1,400, highlighting the need for accelerated growth.
Strengthening Domestic and Foreign Investment
To bridge the investment gap, FNCCI has taken proactive steps to mobilize internal capital and attract Foreign Direct Investment (FDI).
Nepal Development Public Limited: A new investment company with a paid-up capital of NPR 10 billion has been established to lead large-scale projects (up to NPR 50 billion) using domestic resources.
Global Outreach: Over the last three years, FNCCI has organized business summits in India, China, the UAE, Qatar, Spain, and Thailand to invite global investors.
Focus on Governance: President Dhakal identified governance and the maximum use of technology, including Artificial Intelligence (AI), as essential prerequisites for sustainable FDI.
A Vision of Hope and Integrity
Concluding his speech, President Dhakal urged the government and the private sector to move beyond looking at donors for resources and instead lead the economic reform independently.
The “Private Sector Honor”: He called for the slogan “Honor for the Private Sector is the Basis of Prosperity” to be adopted nationwide.
Resilience: Recalling the challenges of the 2015 earthquake and the COVID-19 pandemic, he reminded attendees that the private sector has always risen from the dust.
“I am a person who seeks opportunity in adversity,” Dhakal stated, expressing his unwavering confidence that the coming days for Nepal’s economy will be “golden” through positive thinking and creative collaboration.
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