FNCCI president Dhakal advocates for FDI in Nepal at World Bank and IMF annual meetings

Washington, October 24 — During the annual meetings of the World Bank and the International Monetary Fund, Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry, urged the global community to consider Nepal for direct foreign investment.

While participating in various forums and meeting with officials on Wednesday, he highlighted the investment-friendly environment in Nepal and noted that necessary amendments have been made to the relevant laws to facilitate foreign investment.

President Dhakal assured attendees that the Federation would coordinate the necessary efforts to promote direct foreign investment in Nepal. In a meeting with Emad Fakhoury, the South Asia Director of the International Finance Corporation (IFC), he discussed how the corporation could empower Nepal's private sector.

During this meeting, they also conversed about the global economic downturn resulting from the COVID-19 pandemic and the Russia-Ukraine conflict, as well as the impact on Nepal's economy and its current state.

Following the meeting, President Dhakal informed the National News Agency that discussions also took place regarding collaboration with the private sector in Nepal's hydropower, tourism infrastructure, and information technology sectors. He emphasized the need to attract foreign investment in these areas.

The meeting included participation from IFC officials and representatives of the Federation. On the same day, President Dhakal met with Samir Abhayankar, Executive Director of British International Investment, and the Investment Director, where they also discussed how to enhance investment in Nepal’s tourism, hydropower, and infrastructure development.

President Dhakal urged them to invest in various sectors, including tourism, hydropower, information technology, and hospitality, noting that there are significant opportunities for investment in Nepal. He reported that following the investment conference, foreign investors have shown interest in new sectors within the country.