NCC 74th Annual General Meeting: Chairman’s Address on Nepal’s Economy & Business Challenges
9th April 2025, Kathmandu
74th Annual General Meeting of Nepal Chamber of Commerce – Welcome Address by President Kamalesh Kumar Agrawal (Summary)
NCC 74th Annual General Meeting
Right Honourable Prime Minister, Honourable Ministers, Distinguished Guests, Entrepreneurs, Journalists, Women Delegates, and All Participants – A Warm Welcome!
1. 74th Anniversary of the Chamber
This is a moment of pride not just for the Chamber but for the entire private sector. Over the course of more than seven decades, the Chamber has played a vital role in Nepal’s economic development.
2. History and Contribution
Since the introduction of the budget system in 2008 B.S., the Chamber has actively worked with the government in policy formulation, providing recommendations, and facilitating implementation.
3. Collaboration and Engagement
The Chamber has maintained a practical and collaborative approach, working closely with the government, diplomatic missions, and development partners to offer policy suggestions, many of which have been implemented.
4. Social Responsibility
From supporting post-disaster recovery to collaborating with UNDP in reconstruction efforts and participating in employment and labor fairs, the Chamber has remained active in fulfilling its social responsibilities.
5. Nepal Chamber Expo
The 8th International Chamber Expo was successfully held. It contributed to the market promotion of domestic products, encouraged B2B trade, and supported the promotion of locally-made goods.
6. Economic Outlook
The latest quarter has shown signs of recovery. However, restrictive policies in previous years have slowed economic growth. While remittances and foreign currency reserves are high, their effective utilization has yet to be realized.
7. Export and Import
Although exports have slightly increased, this is not yet sustainable. Long-term policy reform, facilities, and incentives are necessary for stable trade growth.
8. State of the Private Sector
The private sector is facing serious economic stagnation. Over 100,000 businesses have been blacklisted. There is an urgent need for flexible loan policies, an investment-friendly environment, and leniency in repayment measures.
9. Closing Remarks
President Agrawal expressed gratitude for the Prime Minister’s presence, viewing it as a symbol of respect toward the Chamber. He called for clear policies and their implementation in coordination with the private sector to drive economic revival. He urged the government to restore business confidence by introducing flexible policies regarding blacklisting, working capital loans, and interest rates.
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