13th November 2024, Kathmandu
President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, emphasized that halting development and investment would obstruct not only the nation’s current economic prosperity but also lead future generations into a vicious cycle of poverty and scarcity.
FNCCI President Advocates Favorable
Speaking at the opening ceremony of the second Gandaki Province Festival, organized by FNCCI Gandaki Province, President Dhakal urged everyone to avoid discouraging investment and impeding development.
“Some areas in Nepal still hold onto the mindset of obstructing development and investment. Such hindrances have negative impacts not only on investment but also on the nation’s overall prosperity and growth,” he stated.
Highlighting the immense potential for infrastructure development, especially in religious and cultural tourism, Dhakal noted the necessity of creating a favorable investment climate to fund these projects. He shared an example of Chandra Giri Cable Car, a project that initially faced resistance but has since transformed the area into a thriving tourist destination, providing employment opportunities for locals and contributing to the national economy.
President Dhakal also underscored the potential for development in Gandaki Province and Gaindakot, emphasizing the importance of encouraging this progress. He called for collaboration between the private sector and the government to unlock the region’s full potential.
On his recent visit to the Nepal-China Korola border, Dhakal highlighted the strategic importance of upgrading the road from Myagdi to Korola. He mentioned that the Kaligandaki Corridor, once improved, could play a crucial role in connecting two of the world’s largest economies and significantly contribute to Nepal’s economic growth and prosperity.
“I recently traveled from Korola to Sunauli and noticed that road conditions have improved considerably. Further upgrading the infrastructure at Korola could make it a vital and convenient trade route between Nepal and China,” he remarked. Dhakal urged the provincial government to pay special attention to these developmental opportunities.
He shared that FNCCI, under his leadership, has been actively working to attract foreign investment. He highlighted his efforts to engage with various countries and stressed that FNCCI continues to pave the way for foreign investments in Nepal.
President Dhakal called on provincial and local government leaders to evaluate their tenures based on the outcomes of their work. “Our success or failure will be measured by the policies we changed to create an investment-friendly environment, the projects we initiated, and the projects we completed. We must focus on delivering tangible results,” he asserted.
Addressing the country’s growing economic pessimism, Dhakal announced the establishment of the Nepal Development Company. He explained that this initiative aims to rejuvenate the sluggish economy by facilitating investment in potential projects.
“The Nepal Development Company has been established under FNCCI’s leadership. If you have a viable business idea but lack equity, this company will invest in your vision. Likewise, if you have savings and are interested in investing in promising projects, you can do so through this company,” he explained.
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