Kathmandu: Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has said that Nepal is making notable progress in investment facilitation and the formalisation of its economy.
Speaking at the 113th International Labour Conference in Geneva on Monday, Dhakal presented Nepal’s recent legal and policy reforms to a global audience, representing the interests of employers from Nepal. He noted that nearly 30 investment-related laws have been amended based on FNCCI’s recommendations, and that a framework for a Bilateral Investment Agreement has also been developed.
Representatives from governments, employers, and trade unions across 187 countries are attending the conference. Dhakal highlighted Nepal’s strategic location, geological diversity, and sectors such as agriculture, hydropower, and tourism as areas rich in investment potential.
“Nepal is on the verge of graduating from Least Developed Country status,” he said, adding, “but Nepali products will still enjoy duty-free access in markets like India and China, offering continued opportunities for investors.”
Dhakal also expressed pride that Nepal’s efforts to expand the formal economy have received international recognition. He cited an ILO report that praised Nepal, along with Zimbabwe, Côte d’Ivoire, Uruguay, and Namibia, for innovative approaches to formalisation. He mentioned ongoing collaboration among FNCCI, trade unions, and the government to further this agenda.
Calling for greater global engagement in private equity, venture capital, and climate finance, Dhakal emphasised Nepal’s minimal greenhouse gas emissions and its significant role in mountain conservation. He appealed for targeted support for mountainous and island countries in terms of market access, financial aid, and development cooperation.
Dhakal reiterated FNCCI’s commitment to promoting decent employment and economic growth. He informed that FNCCI has set up an FDI Help Desk for supporting foreign investors and has signed a memorandum of understanding to enhance cooperation with workers.
He concluded by affirming FNCCI’s readiness to collaborate with international partners for a better economic future for Nepal and the global community.