13 June 2024, Kathmandu
FNCCI President Chandra Prasad Dhakal addressed the 112th International Labour Conference, advocating for investment in Nepal due to its improved labor relations, recent economic reforms, and strategic location. He highlighted opportunities in hydropower, tourism, IT, and agro-based industries, and mentioned the government’s efforts to simplify investment procedures.
FNCCI President Dhakal Global Investment Conference
FNCCI President Dhakal addresses 112th International Labour Conference: Calls for investment in Nepal (2024, 6/12)
Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (#FNCCI), addressed the 112th International Labour Conference on Wednesday. He argued that Nepal’s improved labour relations, recent economic reforms, and its strategic location between India and China have significantly increased investment opportunities in the country.
Dhakal, representing employers at the conference, pointed to the growing cooperation between employers and employees regarding worker social security. He stressed the importance of industrial expansion to solidify these positive developments.
To further promote social security, gender equality and opportunities for sustainable income generation, Dhakal urged employers attending the conference to consider investing in Nepal. He highlighted the recently signed 10,000 MW power purchase agreement with India and ongoing discussions with Bangladesh, emphasizing the assured market for Nepal’s hydropower production.
Dhakal also identified potential for tourism infrastructure development in Nepal’s hill stations, citing the growing purchasing power of consumers in large, emerging economies like India and China.
He went on to mention other beneficial sectors for investment, including information technology and agro-based industries. Dhakal informed the conference about the government’s efforts to facilitate investment.
These include drafting bilateral trade agreements, reforming laws to simplify investment procedures, and implementing a policy to eliminate double taxation.
President Dhakal also held meetings with senior officials from the International Labour Organisation (#ILO) and the International Organization of Employers (IOE) on the sidelines of the conference.
For more: FNCCI President Dhakal Global Investment in Nepal