Kathmandu: Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has stated that the foundation for economic reforms is being laid in the country.
Dhakal made this remark during a meeting with Imad Fakhoury, Regional Director for South Asia at the International Finance Corporation, at the FNCCI Secretariat on Monday. In the meeting, Dhakal informed Fakhoury that the government has taken the suggestions given by the FNCCI and has moved forward with new-generation reforms.
Dhakal stated that the government, the private sector, and international development partners can work together to promote economic growth. Dhakal also mentioned that the two institutions could work together to improve the competitiveness of businesses in local and international markets.
He also informed about the joint collaboration between the FNCCI and the International Finance Corporation on the report titled “State of the Private Sector in Nepal.” Dhakal informed that the report has proven to be important for the business community and policymakers.
Dhakal stated that the FNCCI is working with the International Finance Corporation Nepal team to introduce ESG (Environment, Social, and Governance) programmes in the private sector. Dhakal expressed confidence that the expertise of the International Finance Corporation and FNCCI’s strong relationship with the local business community can make significant progress in transforming Nepal’s economic landscape.
During the meeting, Fakhoury stated that there is a need to place more emphasis on public-private partnerships. Fakhouri said that while Nepal is facing some economic challenges at this time, there are also many opportunities for the country.