Kathmandu, June 9: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, has stated that Nepal has made an impressive growth in expansion of formal economy and facilitating investment.
In his address to the 113th session of the International Labour Conference in Geneva, Switzerland on Monday on behalf of the labour sending country, Dhakal informed the world community about the legal reforms embraced by Nepal and the business opportunities in the country, Dhakal’s Secretariat stated.
Speaking to delegates from governments, workers’ organizations and employer groups, he appreciated the ILO’s tripartite model for fostering collaboration among key actors in the global labour market.
“We all have different roles but we share one common goal, to create an environment for businesses to grow and to make sure work is decent. This is why the ILO’s model is so important, and we at FNCCI are proud to be a part of it,” he added.
“In Nepal, we have worked closely with the government, proposing changes to 30 laws related to investment. These have been amended, and a new Bilateral Investment Agreement Framework has been passed,” he said.
Dhakal viewed that such reforms not only support existing formal businesses but also encourage informal enterprises to register and join the mainstream economy.
“Nepal offers investors access not only to the local market but also to the massive markets of China and India,” he said.
“Even after Nepal graduates from LDC status in 2026, duty-free access to these markets will remain, alongside trade preferences with Europe and America,” he elaborated.
As Nepal prepares to exit LDC status, we are committed to creating decent jobs through higher economic growth,” Dhakal remarked while pledging to work with all to build a better, more inclusive future for Nepal and for the world.
