FNCCI president Dhakal calls for increased investment in SMEs

Kathmandu, September 23 — Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has called for increased investment and further concessions in export markets, emphasizing that small and medium enterprises (SMEs) are the backbone of the economy in developing countries like Nepal.

While addressing an event organized by the Asian Trade Promotion Forum (ATPF) in Bangkok, Thailand, President Dhakal urged for a shared economic vision on the empowerment of SMEs for inclusive prosperity within the Asian trade economy.

He noted that SMEs contribute approximately 22% to Nepal's GDP, highlighting the importance of inter-sectoral partnerships for the development and promotion of this sector.

President Dhakal drew attention to the growing investment and market opportunities by linking SMEs effectively with the creative economy. He encouraged Asian investors to focus on these prospects.

He also emphasized the significant role of cultural industries in Nepal's export trade, mentioning handcrafted carpets, thangka paintings, artwork, and traditional musical instruments, urging investment in these areas to contribute to inclusive prosperity.

Encouraging investors to explore opportunities in tourism, he noted that promoting small and medium enterprises through this sector is viable. He invited investors to visit Nepal to seek investment opportunities, particularly in tourism infrastructure such as hotels, theme parks, and cable cars, targeting the growing tourism market.

Dhakal stated that India plans to purchase 10,000 megawatts of electricity from Nepal in the next ten years, and with additional market assurances in Bangladesh, there are favorable opportunities for investment in hydropower.

He informed that various laws related to business have been amended to improve the investment environment, and a bilateral investment agreement framework has been passed to facilitate foreign investors, urging them to take advantage of these favorable opportunities.

Dhakal assured foreign investors wishing to invest in Nepal that FNCCI is ready to assist them and is providing support through a help desk to help foreign investors understand policies and procedures.