FNCCI President Invites UAE Investors for investment in Nepal

Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has extended an invitation to UAE investors, encouraging them to discover profitable opportunities in Nepal's emerging sectors.

The presence of esteemed individuals at the forum, including Prime Minister Puspa Kamal Dahal, signifies a crucial moment in the strong bond and economic collaboration between both countries.

During his speech at the Nepal UAE Business Forum held in Dubai, President Dhakal represented FNCCI, Nepal's leading body for the private sector. He emphasized Prime Minister Dahal's dedication to an economic resurgence that paves the way for a successful business climate.

According to Dhakal, Nepal's external sector stability, and youthful populace establish a firm foundation for trade and investment, rendering it an appealing option on the international stage.

Identifying areas for joint expansion, President Dhakal focused on four sectors with massive investment potential: energy, tourism, agro-processing, and ICT. He urged UAE investors to take advantage of Nepal's thriving energy market as doors open to regional markets, which offer excellent investment possibilities.

Regarding tourism, President Dhakal highlighted Nepal's considerable infrastructure advancements such as additional international airports situated in Lumbini and Pokhara. He implored UAE investors to contribute towards developing top-notch tourism establishments like hotels, cable cars, theme parks, and hill stations. This would accentuate the opportunity for enhanced bilateral tourism.

Agriculture forms a vital part of Nepal's economy and presents further scope for collaboration. President Dhakal invited UAE investors to venture into agro-processing opportunities capitalizing on Nepal's unique weather conditions and the Himalayan region's agricultural produce. He also argued for tariff and non-tariff support to boost growth in this sector.

Nepal's emerging ICT sector is consistent with the UAE's accomplishments within the digital realm, creating prospects for cooperation and knowledge sharing. President Dhakal envisions a fruitful partnership in this domain, fostering innovation and progress. Additionally, he emphasized the critical role that banking and finance play in trade and investment. In this regard, Dhakal opines that since Nepali banks in the UAE can service the large Nepali population in the UAE, promoting UAE investments in the banking industry in Nepal may be an idea worth pursuing.

The president, Dhakal, noted that the UAE should make use of the hardworking Nepali labor force by supporting technical and vocational schools to train the laborers, which could promote communal development. He narrated his own experience in support of possible success in Nepal with government support and a congenial investment environment.

Finally, President Dhakal thanked Prime Minister Dahal for his efforts towards the bilateral agreement between the two countries and asked investors from the UAE to come and invest in Nepal. He said FNCCI will be willing to work with the partners in order to strengthen the economic relations between the two countries.

The closing of the forum gave new opportunities for partnership while confirming that collective work can be positive for the story of the success of the Nepal-Union Arab Republics.