Chandra Prasad Dhakal Urges UAE Investors to Expand Investment in Nepal

Kathmandu. Former President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Chairman of IME Group, Chandra Prasad Dhakal, has urged investors from the United Arab Emirates (UAE) to expand investment in Nepal. He stated that now is an opportune time to invest in Nepal.

Speaking at a dinner hosted in Chandragiri in honor of a high-level delegation from the government and private sector led by UAE Minister of Foreign Trade Dr. Thani Ahmed Al Zeyoudi, Dhakal emphasized that the Nepal-UAE relationship should no longer be limited to labor and remittances. He stressed the need to focus this relationship towards trade, investment, innovation, entrepreneurship, and joint ventures. He noted that the UAE's remarkable achievements in trade, investment, finance, tourism, innovation, and technology over the past five decades are a result of visionary leadership, open economic policies, and an investment-friendly environment, from which Nepal can learn a great deal.

Mentioning that diplomatic relations between Nepal and the UAE will complete 50 years in 2027, Dhakal stated that this historic occasion should be utilized as an opportunity to elevate the economic partnership between the two countries. He expressed confidence that discussions regarding the Bilateral Investment Agreement (BIA), Double Taxation Avoidance Agreement (DTAA), and Comprehensive Economic Partnership Agreement (CEPA) between Nepal and the UAE are progressing positively and will reach conclusions in the near future. He added that these agreements would enhance investor confidence, create a more investment-friendly environment in Nepal, expand cooperation between the private sectors, and take trade and investment between the two countries to new heights.

He highlighted significant investment opportunities in Nepal in the areas of hydropower, tourism, digital payments, financial technology and urban infrastructure, agriculture, manufacturing industries, industrial development, and supply chain services. He clarified that the UAE's technology, experience, and investment capacity align excellently with Nepal's development priorities. Stating that Nepal has immense potential and the UAE possesses world-class experience, technology, and investment capacity, he said that world-class projects can be developed through joint investment in tourism, hydropower, infrastructure, manufacturing industries, and other potential sectors. He expressed his belief that this would contribute to job creation, economic activity expansion, and the shared prosperity of both countries.

Dhakal mentioned that IME Group has been collaborating with various financial institutions in the UAE for a long time through its banking, remittance, and digital payment services, and expressed that joint investments can be expanded in the future in tourism infrastructure, cable cars, quality tourism infrastructure, hydropower, and integrated entertainment infrastructure. He recalled organizing the Nepal-UAE Business Summit in Dubai on the occasion of COP-28 during his tenure as FNCCI President and having the opportunity to participate in the World Government Summit twice. He stated that these experiences have further strengthened his belief that the UAE views Nepal as a potential investment destination.

At the end of the program, Dhakal called upon the private sectors of both countries, saying, 'Nepal is ready. Now is the opportune time to invest in Nepal.' He added, 'The private sectors of both countries must take economic partnership to new heights through investment, innovation, and entrepreneurship.'